› Flat Chat Strata Forum › Strata Committees › Should executive committees be fined? › Current Page
You must have read some of my submissions Tracer. Yes, we have corrupt Executive Committee members being re-elected into office year after year from proxies received from owners who have ‘favours’ done for them in return of them giving such proxies. Very annoying and what can you do except wait until the other owners realise they are being duped. Incompetence reigns supreme.
Gradually the other owners in the complex are starting to wake up to their antics and the fact that if they actually want anything done properly, they will have to elect a different set of committee members to ensure their asset value is retained. The current members have been in place for 3 years now.
We are in a SEPP5 complex of 21 where the builder went into liquidation. The insurance claim has been handled unprofessionally and the monies received for repairs does not cover all the repairs needed. I expect special levies will need to be raised to pay for the waterproofing and re-painting of the complex. At the moment it looks terrible from all the peeling paint. The complex is only 4 years old but looks 20 years old. The obvious incompetence will see the end of this group of 4. Bear in mind the Chairman does not have a vote however he rules the roost but in effect only 3 have a vote out of 21 units that they represent as the ‘Owners Corporation’.
Chairman and Secretary (husband & wife)
Garden Convenor (friend of above)
Committee Member (friend of all above)
I have now moved out and rented my unit. I will not return until the above are too old to be in office any longer, too sick or dead. Frankly I dont care which comes first. In the meantime, I will negative gear the unit and any special levies raised and live a happier life away from the stupidity. I will attend all AGM and EGM meetings however just to rub salt into the wounds as they appear. My revenge will be the reward of having them realise that the value of their own asset is being decreased due to their lack of maintenance and repair. Eventually they will want to sell – perhaps to move into a retirement village or something similar – and will want top dollar. I hope by then they will realise it would be better for us to put a DA to the council to make the complex a normal Strata plan thereby instantly adding $100K to the value of each unit. Also by then other owners will have paid their special levies to get the place spruced up and looking good which will have come out of their pockets and not mine as mine will be subsidised by negative gearing (thank you Government). Revenge will be sweet