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 . . . Power driven  Self-interested  Social group  Welfare society  Apathetic  Rational decision making? or . . . Micro focus - ad hoc / one thing at a time  Egos first  Everyone’s an expert - decision by opinion  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