Collecting Maintenance Fund

The property consists of a circa 1970’s three-storey residential apartment development containing a total of twelve units and includes ground level under croft parking. Construction generally comprises brick external walls, aluminium framed windows and pitched tiled roofing.

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Insurance Issues

Insurance issues where some units on a plan of subdivision are not included on the schedule of Lot Entitlement and Liability.

 

Greg Honeyman from MBCM Strata Specialists Ballarat was appointed as Manager for a brand new Owners Corporation in November 2021. When MBCM took over, the plan of subdivision showed that there were 10 lots on the Plan, but only 6 lots shown on the Schedule of Lot Entitlement and Liability. The developer advised that they had instructed the surveyor that the other 4 lots which fronted the street were to be sold as independent houses and not part of the Owners Corporation.

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The Cost of Apathy

"I put considerable effort and time into this tender prior to being appointed. The OC advised me, after I was appointed, that I was the only company that took this initiative. When you go that extra mile, everyone wins”.

Ami Mohan, OC Manager & Director, MBCM Strata Specialists Moorabbin.

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Who takes the fall when critical items are missed?

"Given the opportunity to work with developers early in the planning phase is where I can make all the difference. This is where the value lies for the developer and the residents”.

Alex Wolf, General Manager, MBCM Strata Specialists Frankston.

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