Apartment boom drives unprecedented demand for owners corporations

The huge increase in the number of apartment buildings in Australia in recent years has driven unprecedented demand for the services of owners corporations.

The emphasis on urban consolidation, rather than continued urban sprawl, in recent years in Australia’s capital cities has driven a sharp increase in the number of apartments being built, not only in city centres, but also throughout many suburban and even regional areas.

In the last 25 years, the number of apartments has increased 78 per cent to 1.2 million, according to the 2016 census.

Over the same period, the number of houses also rose, but not to the same degree.

In the 25 years to 2016, the number of houses rose 40 per cent to 6.3 million.

Apartments buildings are also getting bigger.

In 1996, 18 per cent – approximately one in five – of apartment buildings were four or more stories high. By 2016, 38 per cent – or nearly two in five – apartment buildings were this size.

 

Flammable cladding, defects, short-term rentals: complexity on the rise

 

A number of high-profile issues affecting apartment buildings have also driven demand for the services of owners corporations.

Flammable cladding, out-of-control parties in short-term rentals, and high rates of building defects all require complex responses from owners corporations.

In addition, apartment buildings often now also offer a range of additional services, such as pools, childcare centres, gyms, retail outlets, and bars.

Offering these services in a building can mean the building requires a number of different owners corporations, each with their own area of specialisation, and of course with their own fees and meetings.

 

Owners corporation automation allows for greater scale, complexity

 

The best owners corporation can be proactive across a range of varied and sometimes complex matters.

This ability to be ahead of the curve is more important now than ever before.

Because Beyond Strata uses technology to automate many of its processes, our core systems are efficient and streamlined.

Our team has proven time and time again its capability when it comes to dealing with the strata management of large apartment buildings.

 

Author: Beyond Strata

Beyond Strata is a professional owners corporation management firm that was founded on overarching principles of professionalism, honesty, integrity, openness and transparency. We strive to continually improve our people, culture, technology and processes improving our firm’s ability to provide the highest level of service possible to our clients.

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