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This carrot needs to come with a big stick – and it’s an opportunity to remove the David and Goliath battles between owners and developers.
First you get the 1 percent deal.
If developers sign up to that, there is a contingency that they will cover any additional costs up to 10 percent of the original figure.
After that, the government appoints a surveyor who decided how much more the developer has to pay.
If they refuse, they have to take on the Government, not the owners.
If the defects are way over, the developers and their builders are suspended from the business as well as having to pay for the rectification.
Make it a voluntary scheme so that owners have the choice – some developments will be one-percenters, others not – but once they are locked into it, all parties have to play by the rules.