27 May Do we need to change the Body Corporate sector?
There is a lot of news around changing and regulating Body Corporates right now. The issues were facing aren’t new for us in the industry but as the Auckland Apartment market keeps growing and developers keep entering the market the whole sector has come under the national spotlight. Auckland Central MP Nikki Kaye has also jumped into the fray and launched a new campaign and website www.betterbodycorporate.nz to try to get peoples thoughts and opinions on body corporates in order to gauge what issues are persistent throughout the sector and then what solutions they can offer. As an apartment specialist i work with Body Corporate’s on a daily basis and to be fair there are a few really great ones usually backed by fantastic building managers (the real estate agents lynch pin) and then there are the rest. 🙂 No need to elaborate.
Some of my issues stem around the difficulty in obtaining updated minutes or general information regarding maintenance or building issues but even more so obtaining accurate and detailed information about buildings with identified issues. There are many stories and occasions were a building may have had a small issue, lets say one particular apartment flooded and within weeks the whole building gets branded as a leaky building because of poorly informed owners which gets transferred to the agents and then the public. This can and has in cases caused panic and quick under priced sales. That stigma even quickly contained can have long standing negative effects.
I personally think the sector needs a review and possibly even given an option to adopt a centralised managed system. I say get involved and have your say.
Heres Nikki Kaye’s video discussing the issues for the launch of her campaign.