PROJECTS THAT ADD VALUE

In some ways, buildings are not dissimilar to people. They age, grow tired, get sloppy, need fixing. Sometimes they need a coat of paint. Or a facelift. Even a health retreat can work wonders.

When does a Value Add Project become a change to common property? A change occurs where you:

  • Add to the common property
  • Alter the common property
  • Erect a structure on common property

And, if the changes to common property are for the benefit of all lot owners and will improve or enhance the common property, then the only procedural requirement is for a special resolution (not more than 25% vote against) to specifically approve the proposed action at a General Meeting.

Consequently, Value Add projects in strata may take a bit more time to plan, organise and execute than you might experience in a commercial environment. This shouldn’t be a reason NOT to commence a Value Add Project, as the benefits will out-way the added delay.

Further technical information is contained in Sections 108, 111, 112, and 142-145 of the Strata Schemes Management Act 2015 (NSW).

BEYOND “Maintain & Repair”

A careful reading of the Strata Schemes Management Act 2015 – the legislation governing how strata buildings function in NSW – suggests there are only 6 words in the entire document as the most important.

“Maintain and repair the common property” [SSMA s106]

That’s it. Simple! The remaining 100’s of pages specify how to make that happen.

“Maintain and repair” is the minimum requirement. After that’s done the sky is the limit.

Fix stuff. Move stuff. Build stuff. Add stuff. Improve stuff. Grow stuff. Become sustainable. Reduce grid dependence. Become energy efficient. Create a smart building. Add parking. Add storage cages. Charge electric vehicles.

All of these are possible including many other small, medium and large projects that will add value to your building.

Ask us how

ADDING VALUE INVESTIGATIONS

The first step is to figure out what you can do. What you want to do. What your building infrastructure will allow you to do. And, what the owners want to do.

A site inspection and review of your entire building will reveal value-add opportunities. This information is provided in a written report accompanied by numerous photos. Our unique reports provide the Strata Committee and Owners Corporation sufficient information to prioritise projects and start the planning process.

Strata is democracy in action at a very local and personal level. Our aim is to help you through this process, taking you towards being the Building of Choice in your area.

Request an “ADDING VALUE AUDIT” REPORT

STRATA RENEWAL

There comes a time when everything needs to be renewed, refreshed, rebuilt.

Apartment buildings are no different whether through age, deterioration, poor maintenance, or a desire to create something new.

Historically, strata renewal required 100% of owners to agree before the building could be torn down and rebuilt. The hurdle was almost impossibly high. Often, one owner held out for a better outcome and usually frustrated everyone involved.

Since 2015, strata renewal can proceed with 75% of owners agreeing BUT only after an extensive period of consultation, several official meetings of owners and several voting at General Meetings. Then and only then will a strata renewal proceed. Fears of “little old ladies” and “pensioners” being thrown out on the street are ill-founded.

If your building is looking to Strata Renewal, we can provide impartial practical advise during the initial stages of the process. Of course, you will still need lawyers, quantity surveyors and engineers – as well as someone to buy your building. That is, unless the owners decide to become developers and renew the building themselves.

Contact us to learn more

PROJECT MANAGEMENT

Value-add projects usually require some degree of oversight or management to achieve the desired outcome. This may come from someone who champions the cause within the building – often one or more Strata Committee members.

Sometimes the desired outcome is beyond the expertise or experience of the Strata Committee or other owners and it becomes necessary to appoint someone from outside the building to provide guidance and assistance. We take a methodical approach to planning and guiding projects from start to finish.

There are 5 typical stages in managing a project from the smallest to the largest: initiate, plan, execute, control, and wrap up. We take you through each of these stages to ensure your project is completed.

I need help with my project

RESILIENT BUILDINGS

“Resilience is about surviving and thriving, regardless of the challenge”, according to 100 Resilient Cities.

We aim to help buildings become more resilient to the physical and economic challenges that are a growing part life in the 21st century.

Let’s talk more about resilience

THINK BIG

Think Big is an invitation to all Strata Committees and Owners Corporation to imagine “What if we did ……. in our building?”

What difference would it make? What new facility/amenity/feature could we add? What savings could we achieve? What would make the building safer? More attractive? Easier to manage? Could we fund building-wide renovations by expanding the building?

Think Big is also an invitation to develop an attitude of constant learning and trying new things. It is not aiming so high, that if you miss the target, you don’t try again. It is trying something never done before, and pushing beyond what’s expected. No matter how big or small.

Help me think big