Ingrid Jackson Location, location, location Price Room size / - - PowerPoint PPT Presentation

Ingrid Jackson

 Location, location, location  Price  Room size / ceiling heights  Historical charm  Renovate to make it your own  Renovate for capital gain  To steer clear of new developments

 Scrutinise the unit  Scrutinise the building  Do a strata records search of minutes  Get a builder’s opinion

The tip of the iceberg?

 Water, water everywhere

 Leaky roofs, leaky windows  Paint blisters and water bubbles

 Rust, rust, rust  Wood decay  Leaky pipes

 Bricks & mortar /render

 Chipped/cracked/crumbling/delaminated

 Concrete spalling

 Bumps & blisters at concrete slabs edges  Uneven flooring

 Windows  Electrical switchboards  Security intercom system  Fire safety infrastructure  Lifts  Pumps

Sinking Fund and levies too low? Here comes a great big new tax . . .

Productive? or . . .

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Power driven

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Self-interested

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Social group

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Welfare society

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Apathetic Rational decision making? or . . .

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Micro focus - ad hoc / one thing at a time

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Egos first

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Everyone’s an expert - decision by opinion

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Pet projects only

Hurdles

 Committee – passive, inactive, penny pinching,

ignorant of Strata Law

 Strata Manager – supine, unresponsive  Meetings - no outcomes

Issues

 Decaying timber windows  Peeling paint  Shabby lobby  Cracked driveway  Concrete cancer / magnesite  Leaky roof  Sagging boundary retaining walls

Strategy

 Join Committee  Get buy-in  Replace strata agency  Meetings with outcomes and actions  Just do it!  Engage experts to inspect, advise, implement

 Painted & tiled lobby  Window replacement program

 Staged - no Special Levies

 Replaced driveway slabs  Repaired concrete spalling

 Inspection and overview by engineer  Whole of building / all balconies waterproofed

 Repaired roof

50% capital gain

Hurdles

 Committee – status, group think, fix symptoms not

causes, one thing at a time, ignorant of Strata Law, pay mates & rellies

 Meetings – decisions based in opinion & postponed

Issues

 Leaky roofs & balconies  Decayed timber bargeboards, pergolas, fences  Rust, rust, rust  Stormwater flooding  Old fashioned colours  Unkempt gardens

Strategy

 Join Committee, volunteer for projects  Run Committee according to Act  Building defects report  Sinking Fund Plan based on building report  Whole-of-resort planning and implementation  Ongoing maintenance programs

Outcomes

 Fixed 332 defects in Building Defects Report  Balcony waterproofing/retiling program

 Staged - no Special Levies

 Colour scheme by colour designer  Paint and maintenance program

 Paid over 7 years - no Special Levies

 Professional gardening firm

4 Star Resort

Hurdles

 Chairperson

 manipulative, vengeful, proxy farming, abuse Strata Law

 Committee

 acolytes, pet projects, secretive, keep levies low

 Meetings – minutes air brushed to hide truth  Strata Manager

 compromised, weak on Strata Act, favourite suppliers

Issues

 Leaks – car park / walls / windows  Bricks / mortar / render / flashing /seals  41 year old windows  Stormwater drainage  Concrete spalling

Strategy

 Join Committee with like-minded people  Meetings – action items and follow up  Expert building inspection to identify defects  Full disclosure & communication to owners

Outcomes

 Major remediation program overseen by

engineer

 Waterproofing  Stormwater drainage  Facade repair  Spalling repairs  New windows  Special Levies staged over 2 years

 Replaced ‘favourite’ suppliers – quotes/referees  Ongoing maintenance programs

 Get to know the Act

 “Strata Living” booklet - NSW Fair Trading  Strata Schemes Management Act 1996 - Internet

 Get onto the Committee  Join OCN  Make a difference

Expert Building Inspection Report Sinking Fund Plan Appropriate Levies Staged Repair and Remediation Projects Ongoing Maintenance Programs