Strata - implications of xCAT orders or compulsory strata management on value

Discussion in 'Property Management' started by bunkai, 3rd Aug, 2021.

Join Australia's most dynamic and respected property investment community
Tags:
  1. bunkai

    bunkai Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    858
    Location:
    Sydney
    Small dysfunctional strata - other owners reject/delay any genuine repairs to common property unless they benefit "all owners"

    It seems easier to seek tribunal orders or even compulsory strata manager (the negatives of which are significant but better than where we are now).

    We may rent out the property or perhaps sell it next year. Seeking thoughts on buyer perception of such matters?
     
  2. thatbum

    thatbum Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,788
    Location:
    Perth, WA
    Would they even figure it out?
     
    Michael Mitchell likes this.
  3. bunkai

    bunkai Well-Known Member

    Joined:
    26th Jun, 2015
    Posts:
    858
    Location:
    Sydney
    That is where I am going - the buyers will purchase this property on emotion. It is very unique/attractive.
     
    Michael Mitchell likes this.
  4. Dean Collins

    Dean Collins Well-Known Member

    Joined:
    21st Feb, 2016
    Posts:
    982
    Location:
    New York
    Have had an ongoing issue with www.neighbourly.co on our 3rd strata manager in under 12 months all more useless than the last trying to take out a NCAT application on a neighbor over noise issues with defective flooring but Neighbourly.co seem to either not want to file the ncat application OR are basically incompetent and dont know what they are doing......by the time we get one managaer up to speed on what the strata committee wants.....they leave the company and a new one starts.

    Lol....only problem is none of these threads seem to recommend good strata managers......
     
    Michael Mitchell likes this.
  5. Marg4000

    Marg4000 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,377
    Location:
    Qld
    Depends on the nature of the problem.

    If it is external and visual ( peeling paint, mould, untidy gardens) then it will certainy put off buyers.
     
  6. Tom Rivera

    Tom Rivera Property Manager Business Member

    Joined:
    1st Jul, 2015
    Posts:
    2,718
    Location:
    South East Queensland
    I think what you're asking is how likely are buyes to ascertain that the body corporate is disfunctional? I don't really see where they would pick that up to be honest.