The survey, which included 1,000 strata lot owners involved in their Owners Corporation, revealed that over a quarter (28%) of properties are inspected irregularly or not at all for maintenance issues. Additionally, more than a third (35%) lack a formal maintenance action plan. These findings indicate potential vulnerabilities that could lead to costly repairs and compromise the safety of residents.
Kimberley Jonsson, Chief Executive Officer at CHU, emphasized the importance of proactive maintenance: "Proper maintenance is one of the keys to more resilient communities. I believe maintenance is just as much of an investment in safeguarding communities as insurance is."
The Index also highlighted opportunities for strata professionals to enhance their roles as educators and trusted partners. While 40% of owners acknowledge the essential role of strata managers in simplifying property management, there is a clear need for improved communication regarding the value and cost of strata management services.
Jonsson further stated, "Our new research reveals an opportunity for strata professionals to shift their mindset, from service providers to business partners who provide critical information and support. When owners understand how maintenance, insurance, and professional management protect their investment, everyone benefits. That's the future of resilient and healthy strata communities."
The findings underscore the necessity for strata managers and Owners Corporations to implement regular maintenance checks and develop comprehensive action plans. By addressing these maintenance gaps, strata communities can enhance the longevity of their properties, ensure resident safety, and potentially reduce insurance premiums through proactive risk management.
As the strata sector continues to grow, with one in ten Australians living in strata-titled properties, the importance of effective maintenance and management practices cannot be overstated. The CHU Strata Index serves as a call to action for all stakeholders to prioritize building upkeep and foster resilient, well-maintained communities.
