Yearly Archives: 2010

Netstrata appointed to The Point at Pyrmont

Netstrata are proud to announce that they were appointed to the prestigious Australand development The Point in Pyrmont last night.

The owners corporation are looking at undertaking extensive capitol works and wished to partner with a strata manager company that could add some value to the process. Senior Strata Manager Danielle Free who will be the appointed managing agent said “I am looking forward to working with the owners at The Point in helping them deliver some fantastic objectives that they have in plan for the strata scheme”.

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Selling a strata or community property

Sydney from above
Sydney the Place to Be

Selling?  10 Tips you’ve never heard of to improve your Sale!

At one point or another, most owners of a Strata or Community Title Property will consider selling their home or investment. Your sales agent will generally run you through the DO’s and DON’Ts of preparing the property for the market, however there are many other small, but significant steps you can take through the effective use of your scheme’s records that can be extremely beneficial in achieving a quick and efficient sale, as well as achieving the best possible price for your property, particularly in a tough and competitive market.

1.    Contract Information

You can obtain much of the pertinent information that your solicitor or conveyancer will need to prepare your sales contract by utilizing the WEBlink services at our website www.netstrata.com.au. Here you will be able to obtain;

  • A copy of the Insurance Certificate for your scheme
  • A copy of the Insurance Valuation for your scheme
  • A copy of the Strata/Community Plan for your scheme
  • A copy of the current By-laws for your scheme

These documents will provide useful and important information your solicitor can include in your contract that will assist the inquiries of prospective purchasers.  They should also save you a few $$$ in the costs of preparing your sales contract!

2.    Size Matters!

Your Strata or Community Plan will provide the accurate sizes of your lot. And for strata owners this will include the internal areas, balconies, courtyards, and garage/parking areas for inclusion in sales brochures to prospective purchases.

3.    Features

Be sure to share all the useful features of your scheme to your sales agent, particularly items that will boost the saleability of your lot. Useful ‘strata’ and ‘community’ questions to answer include;

  • Is the scheme Pay TV/Digital TV ready?
  • Is high speed broadband internet available?
  • Is there a Gym, Pool, Spa, Sauna at the scheme?
  • What are the common security features?
  • What are the local conveniences, e.g. bus/rail stops, shops, schools, child minding facilities, etc

4.    The By-laws

The By-laws that are in place for a scheme can have a significant impact on the lifestyle choices for residents and a purchaser’s willingness to buy.  Important questions to inform your sales agent include;

  • Are pets allowed at the scheme? And if so what type?
  • Can air-conditioning units be installed?
  • Are there exclusive use By-laws in place for your lot?
  • What is the scheme’s attitude to alterations, additions and improvements?

5.    Maintenance Costs

All prudent purchases will want to know not only the current the running costs of the property, such as your current levies, council rates and water rates, however what the expected future running costs of the property will be. If your scheme has undertaken improvements to the common property such as a major renovation or implementing an energy audit, installation of solar panels or rainwater tanks, be sure to inform your agent of the proposed benefits to the scheme.

6.    The Schemes Records

The information you provide during the marketing process will attract purchasers to your property, however those that are serious will want to undertake a complete inspection of the records of the scheme.  These reports are usually prepared by professional searchers who know where to look for the detailed information relating to your lot, so unfortunately there’s no place to hide.

These searches can often make or break a sale, particularly if your scheme has had a history of defects or disputes. If your scheme has a few skeletons in the closet, don’t worry. By forewarning your sales agent or solicitor of any potential problems you can provide them with the significant information that is necessary to address any concerns.

7.    RP Data Reports

Setting the correct price is imperative during the marketing process.  Too high and you’ll scare off many prospects, too low could cost you thousands. The RP Data reports provided via WEBlink will provide the recent sales results for strata and community title properties in your area and often your scheme.  These are the best indicators of the current state of the market and provide you with further independent advice of the appropriate price to list your property for sale or auction.

8.    Sales / Auction Signs

No doubt your sales agent will want to erect a sign on the common property advertising your lot for sale. Here it’s important to ascertain your scheme’s attitude towards the erection of signs on common property because permission will be required. If your agent unwittingly erects a sign without permission, you may be up for the costs of not only installing the sign, but having it removed and repairing the damage to common property.

9.    Knowledge is Power!

NSW Fair Trading produces a range of useful and informative guides to assist prospective purchases. These include; ‘Buying into a Strata or Community Scheme’ and ‘Strata and Community Title Living’. These guides are offered free from Fair Trading, so have your sales agent obtain a few copies for distribution to prospective purchasers. See our useful links page.

10.  The Netstrata Difference

Whilst we are experts in Strata Management in Sydney, we’ll never pretend to be sales agents, however if you ever need any assistance with obtaining the important information to assist you during your sales and marketing process or if you have any questions, please do not hesitate to contact our office.

Hidden electricity costs in apartments

Keeping a lid on energy costs inside your apartment is as simple as following a few simple steps – but what about electricity use in your building’s hallway, laundry or car park? You may not realise it but you could be wasting hundreds of dollars each year in electricity costs for common areas that are built into your strata fees. These sorts of costs can vary significantly, ranging from less than $100 per year for small apartment blocks and villas, to more than $1500 per year for a large high rise complex.

Here are a few tips to save energy and cut these hidden costs:

  1. For common area lighting (both indoor and outdoor), choose energy efficient lights wherever possible and install timers and motion sensors so they’re not running 24 hours a day.
  2. Pool pumps and heating are big energy users and it’s important to ensure that they are not running longer than necessary. If possible swap your electric heating to a gas or heat pump system. Savings can also be made by having car park ventilation controlled by carbon monoxide sensors and using variable speed drive fans.
  3. Air conditioning systems can account for up to 60% of energy bills in common areas. Try using a programmable time clock to minimise operation time, and appropriate thermostat settings to avoid overheating or overcooling.

For larger apartment blocks an audit report by an energy consultant can be money well spent.

PAUL MYORS is an energy efficiency expert from Energy Australia.

To talk to Paul Myors about these or other energy efficiency tips call (02) 9966 7985 or go to www.ausgrid.com.au/efficiency

For all of your strata management questions please do not hesitate to talk your strata manager.

NSW lagging behind all states on housing approvals

The  building  home approvals  figures  released  by the Australian  Bureau  of  Statistics  today  for September, have NSW’s approvals at half that of Victoria which has a lower population. For every 10,000 people NSW has 47 approvals to Victoria’s 109 approvals and Queensland’s 73. NSW was the lowest in Australia on a per capita basis.

The  Urban  Taskforce’s  chief  executive,  Chris  Johnson  said  “while  the  previous  month of  August did show a more positive trend for NSW this seems to have been due to unusual circumstances”. “These results for September 2011  compared to ten years ago for the same period represent a34% reduction in home approvals”, Chris Johnson said.

“While it is admiral for the state government to announce the rezoning of thousands of housing lots in Western Sydney, the reality is that many of these are not turning into approvals. This may well be due to high levies imposed on new housing lots in NSW.

The  NSW government  needs  to address  this  critical  issue  as  to why   NSW is  lagging  so much behind other states”, Mr Johnson said  The  Urban  Taskforce  is  a property  development  industry  group,  representing  Australia’s  most prominent property developers and equity financiers.

Thank you Urban Taskforce for this article

Netstrata welcome the owners of 268 Flood Street Leichhardt

Netstrata is proud to announce that they have been appointed by the owners corporation at 268 Flood Street, Leichhardt. The strata scheme comprises 38 townhouses set amongst well established botanical type gardens. The scheme will be managed by Christine Ashfield-Howell and she can be contacted direct on 02 8567 6420. Business Development Manager Jeremy Stone said “after going through an extensive tender and selection process it was fantastic to be appointed and we look forward to working with the committee in order to add some real value to this strata property, delivered through our proactive management approach”.

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Fine moustachery and immaculate grooming doesn’t grow on trees

Netstrata  are proud to support Movember.

Movember

Each year Movember is responsible for the sprouting of moustaches on thousands of men’s faces in Australia and around the world, with the sole aim of raising vital funds and awareness for men’s health, specifically prostate cancer and depression in men.

Men sporting Movember moustaches, known as Mo Bros, become walking, talking billboards for the 30 days of November and through their actions and words raise awareness by prompting private and public conversation around the often ignored issue of men’s health.

Peter with mo Mo growing Justin with mo Big mo Andrew with mo

 

 

 

 

 

 

 

 

Supported by the women in their lives, Mo Sistas, Movember Mo Bros raise funds by seeking out sponsorship for their Mo growing efforts. The rules are simple; register online at Movember.com and start the month of Movember clean shaven, before growing a Mo.

Money raised in Australia is shared equally between programs targeting prostate cancer and male depression. Funds are committed to our men’s health partners, the Prostate Cancer Foundation of Australia and beyondblue – the national depression initiative and the Movember Foundation. Together, the three channels work to ensure that Movember funds are supporting a broad range of innovative, world class programs in the fields of research, education, support, and awareness.

City Futures Research Centre to undertake major study of the strata sector

Strata is the fastest growing form of residential property ownership in Australia. Over half the new dwellings to be built in our metropolitan areas over the next decades will be strata titled. The growth of this sector raises increasingly important questions over property ownership and governance.

A new two-year research project, supported by the NSW strata industry and the NSW State and Federal governments, will chart the key issues facing the governance and management of strata buildings. The research will be undertaken by the High Density City team at the City Futures Research Centre. The project is the first major study of the strata sector undertaken in Australia.

The research has three main aims:

  • 1. To explore the role, capacity & effectiveness of owners’ corporations as agencies of property governance and management.
  • 2. To explore the capacity & effectiveness of strata managers as mediators of outcomes for owners and residents in strata & their role within the overall structure of management & governance.
  • 3. To assess how well residential strata works from strata owners’ points of view.

The project, which focuses on NSW, will deliver systematic information about the operation of the strata system. The findings will assist residents, owners and those involved in strata management and policy development to better understand the nature and scale of issues facing the strata sector and its capacity to self-manage these issues. It will provide an informed evidence base to support improved best practice and policy development across the sector. While it focuses on NSW, the results will inform policy and practice in the strata sector across Australia.

The research will be undertaken by the City Futures Research Centre in partnership with:

  • The Institute of Strata Title Management
  • The Owners Corporation Network
  • Lannock Strata Finance
  • Macquarie Bank
  • NSW Land and Property Management Authority
  • NSW Fair Trading

For more information check out https://cityfutures.be.unsw.edu.au/

Forbes Richest Man & Netstrata

Netstrata’s Business Development Manager Jeremy Stone attended a luncheon at Doltone House Pyrmont today to hear some insightful comments on the world economy from the world’s richest man Carlos Slim Helu who is in Sydney for the 2010 Forbes Global CEO Conference. Jeremy Stone said “it was amazing to see how down to earth Carlos was happily posing for photos and donning his Akubra hat which was his gift for his attendance”.

Carlos

Netstrata SUPPORT Thong Day

The strata managers at Netstrata have signed up to support the great Thong Day a cause which will take place on October 1 2010. The team will come to work in their favourite pair of thongs to help raise money and awareness for the Young Care organisation.

Thongs together in circle

ThongsClose up of feet in thongs

What is Young Care?

Did you know that currently there are over 6,500 young Australians are forced to live in aged care facilities, simply because there are few alternatives. Youngcare’s aim is to raise awareness of this national issue by driving change to create real choices in care options for young Australians with full-time care needs.

To find out more, visit: youngcare.com.au or to assist the Netstrata team in raising $1000 visit http://www.everydayhero.com.au/netstrata.

Thank you for your support.

The strata management team @ Netstrata

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