The strata concept has been used in a variety of ways, no doubt well beyond the scope originally intended. Wily developers have embraced the concept, always looking for ways to sell their dreams. Clever solicitors have aided and abetted that process. For the developer, the sum of the parts is always greater than the whole. Buy a piece of pie and you pay more per slice than you would if you bought the whole pie. So why not buy the whole pie? Because you don’t want the whole pie, is the simple answer. I don’t care if I pay more per piece, as long as I get as much as I want and I’m still better off than if I had to buy the lot. This is the simple but extremely lucrative premise of strata title developments.
Monthly Archives: April 2014
If an owners corporation is to develop any sense of responsibility for self-determination it usually happens about year three or four. By then the penny has dropped that the builders not coming back to fix anymore leaks and cracks, the warranties on repair and replacements have expired and there is no money in the tin to pay the bills. Maybe now the owners are ready to embrace and even thrive on the responsibility of taking matters into their own hands and determining the future of their building.
Stereotypes aside, whatever brings us together in smaller and smaller household formations ideally suited to strata communities, it is time for us to address the issues that arise from this form of living. These are issues that go beyond the mere management of owners corporations and common property. These are higher issues that are being debated in a corporate context and are evolving as accepted mainstream standards. Issues such as governance, compliance, sustainability and reasonableness dominate our thinking about corporate life and increasingly the not for profit sector but are yet to be applied in earnest to our strata communities. These are issues, which we must address and disciplines we must learn if we are to live well in strata communities in the second half century of the strata age.