The velocity of change in the NSW capital’s strataland rages unabated.
Navigating shifting demographics and understanding the rules of the game at play in the city’s burgeoning unit blocks have never been more important.
At IUM, we have developed a guide to help you understand the new world of strata parity, that is emerging faster than predicted.
With the number of units in strata schemes racing towards an equal number as free standing housing, the culture of Sydney’s vertical villages is changing too.
The expectation that ‘your home is your castle’ and it carries with it a guaranteed high return on investment, is not so assured when so many more Sydneysiders’ fortunes and lifestyles will rely on collective decision making – or lack of it.
Our new ebook Enhancing Your Collective Asset in 2017 – a guide to creating, protecting and managing equity in your unit block is written to assist and inspire all unit owners and owners corporations.
The guide looks at case studies of the winners and potential long-term losers of strata living in Sydney’s fast moving development zone.
The ebook gauges a real estate agent’s view of unit block governance; highlights a case of potential 15% increases in individual unit values where a successful unit block enhancement is undertaken; and charts the importance of sound decision making and expert management.
We also look at future-proofing the collective property asset.
For example, a bit of forward thinking may also suggest that what unit dwellers and investors want today may seem obsolete tomorrow.
Many Sydney agents report that new entrants to strata living are concerned about wastage of levies and the need to repurpose funds away from unused gyms, pools, outdated roof terraces and concierge services of blocks built in the 80s and 90s.
Equally schemes that:
– have a policy around noise abatement measures
– are prepared to incorporate alternative energy solutions
– insist on a percentage of communal-use outdoor space
– work to include all owners in decision making
– and actively encourage good governance
may just be the gold nuggets that the next wave of vertical villagersare looking for.
After 36 years experience in strata management, we believe it will take a particular brand of collective owner thinking to create and maintain equity in individual units and harmonious unit blocks.
The message is clear: Sticking together with an eye to the future will make you a winner in the new Sydney strata landscape.
If you’re not happy with your current strata manager, we would be delighted to speak with you as soon as possible about your owners corporations’ goals. We can meet on site, take a tour of your unit block and discuss the best ways to go forward.
We offer a 30 minute free strata governance assessment which outline areas of improvement you can focus on to maintain, protect and enhance your unit block.