Strata apartment committees run by retirees

Read an interesting article a few years ago about strata apartments and one of the worst outcomes for owners was committees ran by retirees.
Because they were on fixed incomes , they never wanted to spend extra money and long term spending on maintenance issues was a waste of time.

 

Same scenario it appears - the older voters don't want to spend money on maintenance for the entire joint

 

IMHO, that is a bit of a generalisation .

I am retired, I own apartments in two strata blocks and both have retirees on their BC committees (I am a member of one).

My experience is because retirees are past their asset accumulation phase (that is, they are no longer working), they value their apartments (which means they want to keep them well maintained) and they have the time to ensure the apartments are well maintained (setting scope of work, getting quotes, monitoring work performed, claiming on warranties, ...).

As an example, in the last couple of years, both apartments blocks I am involved in have had the external areas/common areas painted. The second one was just completed at at cost of just over $250,000 and it looks fantastic.

To determine how well a block of strata apartments is maintained (and how well the committee is run/functions), I would be analysing the minutes of their meetings (AGMs, EGMs, Committee Meeting) NOT seeing whether the committee was full of retirees .

To me, retirees on the BC committee is a positive sign. I would be more worried about a committee full of younger (inexperienced) people .

Let’s get back on topic.

 

It was on topic. He used it a a metaphor for the planet

 

That wasn’t clear to grumpy old *******s like me with a 5 year timeline .

 

Back off topic this morning - our strata is made up of four BBs like us, then one really old pensioner. He disagrees with our ideas of maintenance and being the one there on site 24/7, sabotages our best intentions. Just like the political messages our really old rellies send around on fb.

 

I will go for a run with you.

In the late 1970’s, I bought my first property, a two bedroom apartment in Melbourne. The maintenance on the externals of the building was non-existent.

I joined rhe BC committee as I wanted to turn things around. They had a German as the Chairperson and a Jew as the Treasurer. The meeting were interesting and heated (neither of them had moved past WWII) and the committee was completely dysfunctional.

No old retirees here .

The good news is that I got the maintenance schedule underway (once I was on the committee) and I sold that apartment a couple year later with a 62% capital gain .

 

All they needed was a Russian to adjudicate. Though no promises it would turn out any better, considering the misery the Russian soldiers caused others when they 'liberated' them.

 

It was a Russian Jew .

 

Once the ROP realises all he/she has is a vote, and nothing more, all the maintenance that the committee majority want done, will get done.