Strata poker, are you worse than us?

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  • 24/06/2023 at 12:23 pm #69134
    The Hood
    Flatchatter

      I want to claim living in the worst managed SP in the State of NSW but that is a big call given some of what one reads in this forum.

      Every year owners get given financial information with the annual general meeting handouts, or they should anyway.
      Our assets are just money. Money in the bank and money owed as arrears
      I’m going to open by saying that more than half our assets are arrears.
      Can anyone better 55% of your money assets being arrears.
      I’ll up the ante; we have a 25-30% default rate in a large SP.

      Can you top that?

      If you can I will raise you by saying we have over 500 acres of common property and the OC has no idea where the 100+  lot boundaries start or finish and as such have no idea where the common property is when disputes arises over boundaries involving the common property or when maintenance and repairs are on common property.

      I could go all in and say we have 10+km of ‘car killing’ roads, an unfinished building started in the early 1990s, we let our 100 plot cemetery DA, that cost maybe 20k to get, lapse and we pay $10k a year more for our agent than any other agent quote we have ever been given (and we have had about a dozen others), we send people NTCs for a dog being a dog, not a problem dog, and compliance seems to be by coincidence more than design.
      There is more but I think if you can call that then I might need to concede we are not unique in terms of our dysfunctional ways.

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    • 24/06/2023 at 1:54 pm #69145
      Sir Humphrey
      Strataguru

        I can’t top that. I am not in NSW and we only have one unit in arrears out of more than 100.

        I think I can guess where you live. If I am right, it all looks pretty nice from your website but your site wouldn’t be airing the dirty laundry. Over a decade ago, I came across the website of this large strata property when searching for examples with common property solar installations. When people where I am talk about what additional communal facilities we might like to have but which might meet with some resistance, I mention the cemetery.

        25/06/2023 at 11:29 am #69147
        The Hood
        Flatchatter
        Chat-starter

          I think you know the one.
          We have solar. We misrepresented on the application to get a grant for it, we payed way over what we should of for the small system that will never reach ‘payback’ and it would be hard to find a worse place to put it.
          But it does mean we can make certain fuzzy warm feeling claims on a website.
          The claims on the website are somewhat misleading as solar power was $17000 per kw ($US) of panel when the development started in 1982 yet the website claims we are a solar village. $17k  in 1982 is the equivalent of $67k today on the RBA calculator. Even today with affordable solar panels the SP is still a little like a Stalag as it is “lights out” not long after sunset for a number of owners because solar isn’t just a bunch of panels. There is also  the issue that most owners will never get to packback on their solar systems because when you factor in batteries and the electronics it sees the number don’t add up. Not a lot of greenness in this alleged green oasis.
          The website only speaks to the dysfunction. If you go to the website today it still has the contact info as the 2018/19 SC and two of those people don’t even live here anymore.
          Aspect of the strata plan if embellished and fluffed look good on paper if presented in a certain selected light but on the ground it is probably one of the most dysfunctional SPs in NSW.
          A few shots of some bush land and a koala are enticing but beneath the sugar coating is not the flavor one might expect.

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