I’ll pop my two cents in here.
Purchased over 55s apartment in 2010. Lived there 4 years then moved back to my home & leased over 55s. Good rental return. Paid $390k. Now probably worth $850k. Asked Strata Manager before last AGM to advise how i list a suggestion re putting in a new DA to council changing from SEPP5 to normal Strata. At AGM, Strata Manager voted the item ‘out of order’. I’m not sure how to go about relisting it for consideration at next AGM without it being ‘out of order’? Value of apartment would increase from $850k to $1 million.
2. At last couple of AGMs, increase in Levies not going up sufficiently to cover ongoing maintenance & repairs. Most owners are on pensions. I suggested that making it normal strata allows younger people to buy who can afford ongoing building maintenance & repairs. Building now 12 years old. How do we manage when it gets to 20 years old? Most owners in mid 70s to mid 80s now. Next 10 years will be interesting. I’m now considering selling next year. Good suburb.