Strata & Community Living August 2022
2022 August Edition
Working towards greener buildings in NSW
Resilient strata businesses
The changing face of strata schemes
Missed warranty period
Working towards greener buildings in NSW
As things stand, buildings account for over 50% of electricity use in NSW and Australia and represent over 25% of national emissions. Reducing energy use in buildings has the triple benefit of saving money, reducing emissions, and creating space in the grid for electrifying transport and heating.
In New South Wales, the government’s Net Zero Industry and Innovation Program intends to support and partner with the industry to reduce emissions and help NSW businesses succeed in a low carbon world. The plan is that by accelerating the development of clean technology and decarbonisation, it’s possible to grow the economy and support jobs, all while significantly reducing emissions.
Government is also working with the construction industry to encourage the voluntary use of low emission building materials (LEBMs). These materials include ‘green’ steel and concrete, and alternative products such as geopolymers.
Resilient strata businesses
The pandemic has transformed many industries and strata businesses are no exception. Most have emerged from the uncertainty of the last two years stronger than ever – with renewed positivity for what’s ahead. But some concerns haven’t gone away.
COVID-19 has significantly shifted behaviours and expectations, with a resounding effect on the way businesses operate. Macquarie Bank’s Business Barometer uncovered the diverse challenges and concerns of property services businesses over the last two years – and sheds light on their outlook and focus areas for the future.
The research found that only one in four strata management businesses were negatively impacted by the pandemic – fairing much better than other industries. While many sectors were cutting costs, new research shows resilient strata businesses focused on growth strata focused on improving employee experience and business performance.
The changing face of strata schemes
The construction industry, booming housing market and changing workplace environments are leading to millennial and gen x dominated strata schemes with different needs and requirements.
According to ‘Australasian Strata Insights 2020’, published by The University of New South Wales, half of all apartment residents Australia-wide are aged between 20 and 39. In conjunction with this, 24% of residents were couples without children and 13% with.
The result of these trends is a change in the wants and needs of those occupying these strata schemes and lots. Greener buildings and maintenance programs, shared communal spaces, storage for prams or alternate transportation, more family friendly apartments and an insistence on technology based solutions are some of the expected requirements.
How can the strata industry react to these changes and what do they need from their contractors to offer the best service possible and drive continued growth?
Missed warranty period
Bannerman Lawyers discuss;
Question: What happens to your statutory warranties if you do not settle or commence proceedings within the relevant period?
Answer: You have lost that warranty and your claim will be dismissed and if legal proceedings have been subsequently commenced you could be facing a large adverse costs order.
