I’d love to see $80,000, our best quote is $200,000 per lot. We are seeking more quotes.
There are obvious problems with what is happening. We have about 40 bathrooms that have water leakage. If it was a home then we would pay about a $1,000 to use something like Megaseal or retile the shower at about $5000, and it would usually bey fix any problems.. The regulations say that the waterproofing has to be one continuous seal, so all fixtures are to be removed, all tiles removed and the sealing and retiling. This was something like $30-40k per bathroom and they aren’t big bathrooms.
Balconies are a disaster. They are to be stripped back to concrete, checked for concrete cancer and then everything is replaced. Brick walls on balconies need to replaced, as now required to be reinforced.
When I first read the tender, I thought the engineers response to all problems was to replace everything, but that is what they have to do.
Anyway, many of our owners couldn’t afford to pay even $50-100k, so we are all going to be removed kicking and screaming from the building, due to an appointed strata manager. It isn’t going to be nice when eventually we have to do everything and the only choice is to sell to a developer at less than half what people have paid.