Strata Living

The first few years of a new strata plan can be hesitant and shaky as the first executive committee finds its feet. This period is often characterised by identifying and rectifying defects and establishing a sense of identity for the owners corporation; learning who the residents are and how the building works.

Unfortunately all too often, most schemes then fall into a state of reactive or passive management where the focus is often on minimising levies and just getting the essentials done. And yet, this is in direct contrast to the wants of most property owners, both home and apartment, who invariably look to investing in and improving their asset and lifestyle amenity after purchase.

It is important for strata owners to realise that strata schemes, just like any other property or investment, need a more proactive management approach with a vision for the future. We call this ‘sustainable strata’ which is identified by three distinct areas:

1. The owners’ vision for the future in terms of creating a sense of community
2. The long term protection and enhancement of the real estate asset value of the property
3. The carbon footprint or energy usage of the scheme over its life cycle

Buyers today are more discerning and are looking to purchase in strata schemes that:

• Are well managed
• Have a proactive vision for their future
• Have a well developed sense of community
• Have a cooperative, harmonious and productive culture
• Are environmentally aware of their carbon footprint with a sustainable and ecologically responsible attitude

Over time, this will translate into higher demand for units in these schemes and therefore higher real estate resale values.

People are no longer just looking for a place to live but are increasingly looking for a sense of community and a place to thrive where they can relate to their neighbours in a positive and caring way, building a better future together.

Every strata scheme must learn to govern itself according to the principals of good corporate governance. At Cambridge Management Services, we are committed to working with all our owners to help make sustainable strata a reality.