Welcome to the inaugural Vantage Bulletin. This newsletter is about communicating and connecting with you throughout the year.
We’ll cover topics that affect you, our valued clients: people living in a Unit Titled community, including legislation changes, best practice for your consideration and other topics that are relevant to living in a strata titled complex.
A Note from our CEO
As we approach the end of another year, I wanted to take a moment to thank you for your ongoing support in Vantage Strata. Over the past 12 months, we have continued to listen to your feedback and have made changes to better meet the changing needs of our customer.
I would like to share some updates with you. Over the past year, Chris Miller has stepped away from his role as Managing Director, and I have taken on the role of CEO of Vantage. Chris remains a shareholder and director of Vantage but will be taking some well-earned time away from the business to spend with his young family. Having co-founded Vantage with Chris nearly 10 years ago, I have had the privilege of working closely with Chris over the last decade, and I am excited to lead the company into the future.
During the past nine months, we have taken the opportunity to restructure the business to better support our strata managers and help them achieve improved service outcomes for our clients and customers. This restructuring included several internal promotions to strengthen our senior leadership team and enhance our service offering. I acknowledge that there is still work to do in some areas, but I am pleased to see the investments we have made are showing positive results. You can read more about these changes and how they will benefit you:
In October we were honoured to receive the Strata Community Associate (ACT) – Large business of the year for 2024. This is the third year in a row we have been selected for this award and recognises the hard work the Vantage team put in day in day out.
Personally, participating in the MensLink Great Walk was a real highlight. Walking 145km in 5 days was both physically and mentally very demanding. The event raised over $378,000 for a very worthy local Canberra charity who do amazing work with families in our community.
Thank you once again for your support. I wish you and your family a safe and enjoyable holiday season.
Housing and Consumer Affairs Legislation Amendment Act 2024
In June 2024 the Housing and Consumer Affairs Legislation Amendment Act passed through the ACT Legislative Assembly. This legislation contained a number of amendments to the Unit Titles (Management) Act 2011 which have a significant impact on Owners Corporations.
In particular, the amendments introduced sweeping changes to Section 119, which deals with information the Owners Corporation must provide on request by an owner.
In the past this section was mostly applicable in circumstances whereby an owner was selling their property, and they required information from the Owners Corporations to include within their sales contract, referred to as a “Section 119 Sales Certificate”.
A key change to Section 119 of the act is the introduction of a new kind of certificate, which landlords will now be required to provide when entering into a lease with a tenant, now referred to as a “Section 119 Tenant Certificate”.
Recent cases in Victoria and NSW found the owners corporation and strata manager guilty under Work Health and Safety regulations. The case highlights the responsibility we all have when it comes to WHS on common property.
In Canberra, the ACT Government recognises that mixed-use developments are held to a higher standard than residential-only Unit Plans. Setting aside whether we agree with the distinction between the two environments, it is important that we are all aware of our WHS obligations.
The season is nearly on us – Whether you’re staying home or heading away this Holiday season here’s a few tips and reminders help everyone in your complex enjoy this time of the year.
Moving In and Out: Please provide 48 hours’ notice to arrange for necessary assistance with your move. This includes securing access to elevators and protective measures for your belongings.
Seafood Waste: Freeze seafood waste before disposal to minimise odours. Aim to dispose of it the day before waste collection.
Polystyrene Disposal: Polystyrene is not recyclable and should be placed in general waste bins.
Bin Chutes: Do not put large items down the chutes, as this could cause blockages. Improper disposal of waste may result in charges.
Plastic Bags: Do not dispose of plastic bags in recycling bins.
Large Items and Cardboard: Take large items and cardboard to designated refuse areas. Flatten cardboard boxes to create more space in the bins.
Unwanted Items: Donate unwanted toys, textiles, and furniture to local donation centres. These items should not be left in common areas or residential bins.
Parties: Enjoy your parties responsibly and be mindful of noise levels. Consider inviting your neighbours to join in the festive fun!
Parking: Ensure your visitors know the appropriate locations to park. Illegally parked vehicles may be towed.
Management Availability: Building managers are available from 7am to 3pm, Monday to Friday (excluding public holidays and weekends). For emergency maintenance outside these hours, please contact the designated emergency number.
Security: Be vigilant around the community, as thieves are more active during the festive season. Report any suspicious behaviour to local authorities and management. Avoid getting parcels delivered to the site.
Have a wonderful and safe festive season. If you have any questions or need assistance over the holiday period, please do not hesitate to contact management.
The Vantage team will also be taking a break from 23 December to 3 January (inclusive) our office will be generally closed. We will have skeleton crew on to deal with urgent matters and emergencies, but non urgent items (including emails) will be picked up in the New Year.
Wishing you all a joyous holiday season and a prosperous New Year!
How we are using our scale
We’re often asked how Vantage leverages its scale to get better outcomes for our customers. The most recent example is a tender process we completed for common area electricity where we achieved significant saving across 99.4% of the portfolio.
Watch this space, as we intend to continue to aggregate the demand of the portfolio to leverage better long term outcomes for our clients.
Strata Insurance: Current Trends and Best Practices for Consumers
We wanted to keep you informed about the current trends in strata insurance premiums. Nationally, we’re seeing increases of about 15-20%. These hikes are due to rising claims costs, higher building valuations, and insurers adjusting rates after periods of losses. Looking ahead, it’s wise for committees, lot owners, and body corporate managers to anticipate similar increases: 15-20% for those with clean claims records and up to 30% for those with challenging claims histories or outstanding building defects. On a positive note, premiums for desirable risks are starting to stabilize as new underwriters enter the market. (click through the insurance content explanation)
We’re focusing on how to make the most of the BuildingLink Maintenance Platform. To ensure a smooth and efficient process, we’ve outlined key guidelines for submitting maintenance requests. From distinguishing between common property issues and internal unit concerns to understanding cost responsibilities, these tips will help you navigate the system effectively. By familiarizing yourself with these rules, you’ll save time and contribute to maintaining our community spaces seamlessly.
As a Canberra-based business employing over 60 locals and their families, we are grateful for the support of the Canberra community and surrounding regions. Each year, our team selects two charities and commits to raising $15,000 for each through fundraising events. This year, we are proud to support:
