24% of Australians are now living in strata or community title. This means that, nearly one in four Australians are involved with an owner’s corporation, body corporate or community association. In fact, a quarter of the country is living in a sophisticated commune.
We spoke last week regarding the owner’s corporations being just like a company. If you’re establishing a successful company, a number of issues will be initially visited and reviewed throughout the life of the company. For example:
- What is the vision of the corporation?
- What are the core principles that will assist in directing decisions?
- Who will our leadership team be?
- What tasks will we give to our leadership team?
- What expert will we engage to enhance our vision and our principles?
- What standards will we apply to each other in carrying out the business of the corporation?
In New South Wales, we have just had an opportunity to review all by-laws and to reconsolidate them with Land Property Information. Although there have been a number of consolidations, there has mostly been a repeat of what the government has given them. We have seen no consideration of the core principles, leadership or even standards of everyday living. There has been a simple function of consolidating and not considering.
In New South Wales we have missed an opportunity. A world record of the country lives in communes; none of us have learned to live together. We don’t know our neighbor, we don’t care about our neighbor, and we definitely don’t want to know our neighbors exist unless they interrupt our quiet peace and enjoyment.
Owner’s corporations, body corporates and community title continue to be a happy hunting ground for solicitors whilst ever those who participate do not consider themselves belonging to a joint venture. Lawyers make money while continuing to create hatred. They don’t make money out of helping you obtain better corporate governance.
In New South Wales we have missed an opportunity to create a better way of living. In the state where the proportions are well above 24%, we failed to make it better.
This article was written by Bailey Compton, Principal Solicitor & Director at Leverage Group.
To get in touch with Bailey, please email email@example.com or call 1300 438 538