Lady Penelope, thanks for your input. I was trying to set the scene first actually but since you seem to imply I’m some sort of sociopathic busybody, here’s why I’m ‘worried’ about the issues which, ‘… in my [your] opinion… don’t really concern you [me]’.
Over capitalisation, a silly renovation and renovating-to-sell will have an indirect, or even direct, effect on every other unit in our complex, not the least of which is precedents are established for further silly, inappropriate renovations and secondly the real estate value of an renovated unit affects its resale value and so, the value of everyone else’s.
The owner is not in the process of obtaining a CDC. They have pointedly said ‘It’s all self-assess these days’.
Of course, not being able to sell the unit is something I should be concerned about. It means all the other units in this building will be harder to sell.
And of course them not being able to get insurance should ‘bother’ me. It probably means any ongoing problem that surfaces because of their incursions into the common property walls and slab (such as water ingress) may void the owners corporation’s insurance.
Thanks again.
