[Muffin]

Dear Jimmy,

Many thanks for the very informative response to my query re storage space. 

In this case the common property space has been utilised by some resident owners for storage as well as some repair and maintainence work. This informal co-operative use goes back over 30 years and has operated well without any problems until quite recently.

Yes, as you say, some owners are now ‘leaning towards’ this space being divided equally, and legally allocated to the individual lots as ‘storage space’.

Those promoting this approach claim that this “may ” add $20 000 to $30 000 to the value of each individual unit. Naturally this possibility will be attractive to many owners because, assuming an average unit value of $600 000, this would represent an overall increase in value of between 4% and 5%. Other owners are skeptical of this claim and wish to get a realistic idea of [as you say] “how much more attractive the storage [would] make your apartments to potential buyers.” Is a 4% to 5% increase in value a reasonable assessment in your opinion ? 

 

Muffin

[Muffin]

Thanks for all the responses.

To clarify, the EC has 5 people at the moment. 3 of the EC members are a problem. Me and another owner are also in the EC and we want to put forward that the 3 EC members be dismissed or not re-elected to the EC. The issue is that nobody else wants to be part of the EC only the 3 people who are creating problems and taking the other owners to the Fair Trading. The 3 EC members think they have all these power to dictate anything and are constantly trying to find past problems to take people to Fair Trading. Everytime they have done this their issue or complaint get dismissed by Fair Trading. All they are doing is harrasing and bullying people and intimidating them by constantly laying and making things up. Can we suggest that an independent EC is formed?

Muffin

[Muffin]

So, do we need to send the meeting invite with motion to all the owners including the Strata Manager?

or can the 3 owners meet in private and pass the motion? Do we than send the 

minutes to the others? Not sure how this works. Also, in 2 months time there is the AGM and perhaps this

is the meeting and time to say that some of the owners don't want the 3 members to be re-elected due to harasment, bullying, etc? 

 

Muffin

[Author]

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