Tag Archives: strata management

Franklin Covey

Some of our staff attended the Franklin Covey Course on Great Leaders, Great Teams and Great Results in Melbourne last week. The course was founded by international best seller Stephen Covey author of 7 Habits of Highly Effective People. The course was centred around “The Whole Person Paradigm recognising that human beings are not things that must be motivated and controlled. Instead, people are four-dimensional – body, heart, mind and spirit. When people are treated as whole people, they volunteer their highest efforts and energies.

The course was thoroughly enjoyed by our staff, turning upside down some popular management thought and they look forward to sharing their new knowledge with the Netstrata team to further assist our vision of strata management excellence.

What do Strata Levies pay for?

What Do Strata Levies Pay For?

Strata Levies contribute to the operating expenses of strata properties and are divided into 2 separate funds being:

Administration Fund – intended for current operating costs; such as:

Insurances
General Maintenance of shared or what’s known as common property
Mowing and gardening of common property
Cleaning of common property
Water consumption
Electricity Costs

In a perfect world the administration fund would have a $0 balance as you only budget for what you spend.

Sinking Fund – intended for the long-term maintenance of the buildings and improvements to the property, such as:

Replacing common area carpets
Repainting of common areas
Replacement of guttering
Replacement of garage door

How and when are levies determined?

Levy contributions are reviewed yearly by the owners at their annual general meeting, the amount of levies you pay is determined by the owners at the meeting based on the budget sent out with the meeting notice, it is important to look at the meeting notice carefully so you are fully aware what your levies are likely to be.

Shore Dolls Point

Netstrata are pleased to announce that they have been selected to undertake the strata setup work for the  prestige Shore Development located close to Botany Bay in Dolls Point. Shore Dolls Point is being developed by Prestige Apartments Australia and brings a new level of living to the St George District the project website can be viewed at www.shoredollspoint.com.au.

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Home values flat in April 2010

Home values flat in April as heat comes out of Australia’s housing market
Housing markets outside the capital cities record no growth in 2010

Based on the industry-respected RP Data-Rismark Hedonic Home Value Index, which uses the nation’s largest sales database combined with the most sophisticated index technology, Australia’s capital city housing markets recorded virtually no capital gains in the month of April, with home values up just 0.2 per cent (0.3 per cent seasonally adjusted).

The slowdown in capital growth comes on the back of 16 months of strong rises in home values. The anemic growth in April also contrasts strikingly with the market’s circa one per cent per month capital gains since the start of 2009.

Across Australian capital cities, home values were 11.9 per cent higher in the 12 months to April 2010.

2010 ISTM Sailing Challenge

The Institute of Strata Title Management (ISTM), is the leading professional body for the strata and community title sector in NSW, and recently held their annual sailing challenge. Wendy Wong from Netstrata attended the challenge and said it “was a great day and good opportunity to speak with other strata managers about the benefits of strata living and the challenges facing the sector”.

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Wendy Wong at the Helm lookout!

ISTM represents over 1,300 strata managers, principals and suppliers in the sector. The members’ experience ranges from large corporates to small family businesses. They have expertise in all facets of strata management and service provision. Their experience spans those with a lifetime in the industry, to those who are just beginning their careers.

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Wendy and some other Crew.

Membership of the Institute is open to Strata Managers and Suppliers to the sector. A subscription service is also available to those owning a strata or community lot and members of the Owners Corporation Strata Committee. ISTM is a affiliate member of NCTI, the national body for Strata and Community Title Managers.

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A great Day for All

Netstrata secure their future in Carlton

The management of Netstrata are pleased to announce that they have secured their future  in Carlton with the acquisition of 294 – 298 Railway Parade. The building currently comprises Netstrata’s head office, home to 35 of their team. Other tenants in the building include Lifestyle Fitness Australia and Sarraf Real Estate.

New building

Managing Director Stephen Brell said “having to relocate over 5 years ago from Hurstville to Carlton because our existing premises were being demolished; it is fantastic to now secure our future in the same location. We can now focus wholly on our business strategy of providing the best strata and community title management services, without having to worry about relocating. Over time to we plan to further improve our facilities  to ensure that our clients strata experiences are further enhanced.”

Does your building need a change?

Netstrata are industry leaders in the provision of high quality strata management. Could your property benefit from any of the following value added services?

  • Regular Inspections of your strata scheme
  • Provision of your financial and strata scheme records online – see what your levies are contributing too.
  • Overseeing of your Building Defect & Home Owners Warranty Claims
  • Provision of a no term performance based contract
  • Provision of up to date information and training for your strata committee
  • Provision of a maintenance follow up and strata committee reporting process for all maintenance issues
  • A proactive, professional and customer service approach to the
    management of your scheme

Netstrata are committed to excellence in strata management and would be pleased to provide your strata scheme with an obligation free proposal, call us on 1300 638 787 or fill out our form for an obligation free quote.

Strata hold-outs forced to sell under new plan

INDIVIDUAL apartment owners could be forced to sell their units to a developer if three-quarters of the other owners in their building want to do so, under a proposal from the Australian Property Council. The council, which represents developers and large property owners, says strata title laws give too much power to individual owners, who can block the redevelopment even if every other title holder in the building wants to bring in the bulldozers.

The council says many of the state’s 65,000 strata buildings are dilapidated and need redevelopment to cope with population growth. However, it says the process is being held back by a handful of owners. It has released a policy paper recommending that strata title laws be changed so that if 75 per cent of owners in a strata title building vote to demolish and rebuild, they can override any opposition.

The proposal has drawn support from strata managers and the Owners Corporation Network. The Planning Minister, Tony Kelly, said he would give it careful consideration. ”The minister will be meeting with the Property Council of Australia next week and will discuss the details of their proposal,” a spokesman for Mr Kelly said. The Government promised in its 2005 Metropolitan Strategy to investigate reforming strata laws to encourage housing redevelopment. But it has made no changes, fearing that it will be accused of removing owners’ rights. The Property Council accused the Government of dragging its feet on the issue. ”A quarter of everyone in NSW owns, lives or works in a strata title building,” the acting executive director of the council’s NSW arm, Glenn Byres, said. ”But no serious review has taken place, no policy agenda has been promoted and no legislated solution is in place.”

A strata lawyer, Stephen Goddard, said he had acted for the owners of a unit block in Cronulla who had been prevented from developing their dilapidated building because an elderly owner refused to sell. ”The building is 50 years old, well past its best and definitely not the best use of the property,” Mr Goddard said. ”But because just one of the 16 owners – an 80-year-old woman who is refusing to leave because she has convinced herself that she’ll die if she does – is refusing to sell, everyone is stuck there while the whole block gradually falls to the ground.”

The chief executive of the Institute of Strata Title Management, Richard Holloway, said changing the laws would inevitably leave some people feeling disenfranchised. ”People don’t want to leave – they will say ‘I want to live the rest of my life in the area that I know’,” he said. The Property Council has proposed a range of measures to safeguard the rights of owners, including independent valuations for owners not wanting to participate in the redevelopment and the establishment of a strata schemes commissioner to oversee the process.

PAUL BIBBY URBAN AFFAIRS

January 16, 2010 Sydney Morning Herald

Netstrata celebrate the end of a busy year

The Netstrata team had their final staff meeting for 2009 today…  We reviewed our performance for the year, and previewed the innovations to be implemented in 2010, to further streamline our approach to successful strata management …. To celebrate our achievements and hard work  we enjoyed a fantastic lunch which included Fresh Seafood …

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The opportunity was also taken to exchange Kris Kringle Presents…

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A special thanks  to Liesl Biles, Sarah Tickner & Christine Ashfield-Howell for organising this event…

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Some of the salads prepared…. With or without Fetta?

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Some fresh Prawns for hungry strata managers….

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And of course desert…

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Sarah Tickner one of our lunch organisers relaxing with little Chloe…. Check our staff pages in 2030 for more info on Chloe….

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We wish all our clients and contractors a safe and happy Christmas and a fantastic New Year… We look forward to working with you in 2010….

Netstrata rises to the challenge

Strata-Management-Sydney-300x186Netstrata welcomes the owners of “The Dennison” in Dulwich Hill, a mixed residential and commercial development comprising 97 lots. The scheme was recently taken over from another managing agent and is now being managed by Liesl Biles of our office. Liesl said ” I am looking forward to working with the committee to get better value out of their current strata levies and am in the process of reviewing all owners corporations contracts and expenditure”…

Netstrata looks forward to providing the owners of “The Dennison” with professional and proactive Strata Management.