More and more developers are creating projects that focus on sustainability. For many, this is a core value of their business, and they go to great lengths to include sustainability initiatives in their buildings.
Despite the trend towards sustainable features in new buildings, and purchasers demanding more environmentally conscious homes, many do not appreciate the upkeep these initiatives require.
For the potential of these initiatives to be realised, it is paramount that they are understood by purchasers and properly maintained after occupation.
Appointing an Owners Corporation Manager who shares your value of being environmentally conscious and sustainably minded is crucial to achieving this.
A good example of this is a property managed by The Knight in Camberwell. It has a large rainwater tank under the car park ramp which uses recycled water to flush the toilets. Before the Owners Corporation Manager drew attention to this asset, committee members were not fully aware that it existed or what it was for.
The developer of this project had equipped this building with a system to reduce its environmental footprint, but the residents did not grasp the value that it represented.
Often in scenarios like this, when the system requires repairs after several years of operation, the Committee will let the asset fall into disrepair, undoing the important groundwork laid by the Developer. However, an Owners Corporation Manager can advocate for maintenance and repairs, educating the Committee on the benefits, both environmental and financial.
At this Camberwell property, The Knight was able to convince the Committee to keep this system operating by noting the obligations under the planning permit, the saving on the cost of water as well as the positive impact on the environment.
Further to this, an Owners Corporation Manager can work with you to prepare accurate budgets and long-term maintenance plans to ensure that Owners are aware of all the running costs associated with sustainability initiatives within their building.
A great example of this is when a developer includes green space such as rooftop or vertical gardens. These are not only attractive to purchasers, they also have environmental and social benefits to the residents.
However, if upkeep is not accurately budgeted for, these inclusions can be ignored and left to get out of hand, resulting in more expensive works down the track, and potentially impacting property values.
A maintenance fund and accurate budget, which is regularly reviewed and updated by an experienced Owners Corporation Manager, will ensure both that there are no surprise expenses for Owners and that inclusions are never left to fall into disarray or disuse. Read More…
There’s some truth in the saying, “a developer is only as good as their most recent project”.And when a project is handed over to an Owners Corporation on completion, a developer’s hard work can easily be undone by a committee unwilling to spend money on maintenance, or an inexperienced manager who doesn’t provide good advice or fails to keep records in order.Purchasers of an apartment or townhouse have likely been sold a lifestyle of low maintenance and convenience—a dream the developer has worked hard to bring to life, from choosing the location and design of the property through to including state of the art facilities and the finishes within the apartments.But once the work is done and the apartments have settled, the last thing a developer needs is to have their reputation damaged by disappointed owners because the dream has not lived up to the reality.This is where appointing a professional, reputable and reliable Owners Corporation Manager (OCM) comes in.Why it pays to enlist an Owners Corporation Manager earlyEnlisting the services of an owners corporation manager early in the process is a priority that’s often overlooked due to the perception that their services are only useful once the development is complete.A reputable manager can provide valuable insight and guidance as early as the design stage, by drawing on their experience to share how common areas will be used, and how to avoid mistakes that may result in frustration or conflict for owners down the track.Owners corporation managers also often have their finger on the pulse when it comes to innovation and technology.“If you are seeking an edge for your project; something that will help it sell and ensure that residents are satisfied with their purchase, an OCM might just be the best person to turn to for advice,” says Gregor Evans, managing director of Owners Corporation management company The Knight.Having daily interactions with hundreds of owners, building managers and contractors during the past 25 years, The Knight has a wealth of knowledge on the pain points for apartment owners and the features that can transform a project from infrastructure into a community.
If you own a property affected by an Owners Corporation (formerly known as Body Corporate) then you automatically become a member of that Owners Corporation. For more details, speak to Strata Consultants today!
Join us at FLA 2019 to meet George Mathew, General Manager from PJ Dave Flowers Group, the farm owners of PJ Dave Flowers, Timau and PJ Dave Flowers, Isinya.
According to surveys, over 75% of American households have pets.
Americans spend over $75 billion on their pets for food, medical care, toys, and grooming.
Pets are an integral part of most Americans’ lives.In fact, many of the 85 million families with pets consider them part of the family.
Pets can be critical to their owners’ mental health.
Studies prove that people with pets are more relaxed and have improved mood.
People with pets generally have a greater sense of well-being and purpose.
According to business periodicals such as Entrepreneur Magazine Inc. and Forbes, with the beginning of each year comes an increase in new business start-ups.
Perhaps this is because people are seeking an increase or alternative means of income, job independence, or a more rewarding career.
