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There has been much discussion regarding how in Queensland Property developer set Caretaker Fees low for their own purposes. This issue was recently extensively discussed and documented in a PhD thesis. However this practice continues and owners get a shock when the caretaker, which can even be the original developer, exercises caretaker review rights that results in very large increases in the Caretaker fee. Body Corporates can do little in the face of this unequal battle. One day this industry will get a shakeup … I hope!
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Interestingly, I was subject to a complaint to the Financial Review by the Executive of Strata Community Australia (Qld) (strata managers) because of an article I wrote in which I said they thought the pre-sale of management rights was “fine and dandy”.
Apparently, I couldn’t say that because they have no official opinion. If they have ever discussed it, and when I asked they refused to say if they had, they hadn’t reached a conclusion.
All I can say is, judge them by their deeds, not their words.
Pre-sale of management rights is legalised corruption propped up by self-interested players, timid politicians and professionals who should know better.
Pre-sale of management rights is a stain on Queensland strata and serves only one purpose – to put more money in developers’ pockets at the great financial and societal expense of apartment owners.
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