A Melbourne woman living in an apartment, who was terrified that the building would collapse, has been forced to stay as she watches the place crumble around her with repairs to the building estimated to cost a whopping $1.5 million.
Chunks of plaster have come crashing down from the wall and wind blows through gaping holes in Serena’s* apartment but she said she is trapped – with no way to fix the problem or alert the authorities without risking becoming homeless.
She is claiming that “horrendous” strata management over the years – an industry that has come under increasing scrutiny in Australia – has left her and other apartment owners in an impossible position after failing to act.
While Serena’s case may seem extreme, it is not entirely uncommon, said consumer action group Owners Corporation Network of Australia’s (OCN) director Dr Janette Corcoran, who said the organisation is aware of other cases where owners feel abandoned or unsupported.
“Inconsistent communication, lack of urgency, and failure to address significant issues like structural repairs are recurring themes,” she told news.com.au.
“It is important to recognise that many management companies operate responsibly; however, without proper accountability and oversight, there are currently too many instances where owners and residents experience the negative consequences of neglect.”
Dr Corcoran added situations like Serena’s leaves owners in a “vulnerable and precarious position”.
“Without adequate repairs and insurance coverage, the building becomes unsafe and likely unsellable. Banks are hesitant to approve mortgages for potential buyers, and the structural issues significantly reduce the property’s value,” she said.
“To make matters worse, owners may lack both the financial means to address these problems and the authority to act, which typically requires co-operation from the management company and strata committee.”
Read full story:> https://www.news.com.au/finance/real-estate/buying/shocking-pictures-reveal-horror-in-home/news-story/87b021be8f56ad509dc376de5b05fabc
