This is a recurring theme and a good one .I have been involved in strata committees as an owner for many years and have as a lawyer acted for many purchasers in strata.One of the standard headings in the usual pre purchase strata inspection report is
“state of harmony in the building “.
A well functioning strata committee will usually mean the answer to this question is the state of harnony is good.
Which brings me to a topic dear to Flatchat’s heart – Airbnb.
Mostly committee members are made up of owner occupiers.I believe that new owner occupiers will shy away from apartment blocks that allow Airbnb in investment apartments if and when the changes to the law announced last year ( but not yet commenced ) come into effect .
I also believe that over time owner occupiers who can will move out of apartment blocks that allow short term rentals such as Airbnb.
What has been lost in the debate about people’s “ rights “ to rent our their apartments on Airbnb ( which is in fact mostly prohibited under current planning laws) is this simple fact.
Owner occupiers are the heart and soul of strata committees and if they vote with their feet , the remaining owners may find their “ quasi hotels” less attractive to buyers .