A strata property could be one of your biggest investments. With its potential market value, the best thing you can do is to keep it in optimum condition. As the owner, one of your responsibilities is to prevent the deterioration of such a valuable asset. Aside from conserving the property’s value, maintaining an enjoyable living environment and ensures you get all the comfort or convenience you need are important as well.
There are some things you can do to keep your Strata Property valuable for a long period:
Scheduling Maintenance and Repairs
Scheduling a regular maintenance program for your strata property can often turn into the big savings over time. One of the most common issues that might happen is a plumbing problem. Making sure that the plumbing operations of the facility optimized is necessary. There is no “good” time to be confronted with plumbing problems; especially for Strata Managers who are managing numerous properties. An unexpected plumbing disaster may occur and cost the Strata a plenty of money. Not to mention that it’s also quite time-consuming for the already busy Strata Managers. However, you can avoid these situations without having to worry about the massive cost that might appear. A regular plumbing maintenance is the key to prevention for Strata properties. There is various cheap plumber you can find in Australia, and by “cheap” it does not mean that they serve you any less than the more expensive ones. In short, you still get a valuable service at an affordable price.
Necessary Upgrades and Structural Improvements
Besides scheduling a routine maintenance program, it’s also a great idea to make some improvements periodically to increase the value of your property. You may want to upgrade the environment, renovate stairways and balconies, or do a repaint. However, it is necessary to make sure that any proposed improvements with significant changes or modifications are operating under a valid legislation.
Communicate and Collaborate With Other Owners
Renovations in your building can most likely affect the general property. That means you will need to communicate with the other owners and get their permission. You can consider making this a joint project either, as it could give a favorable result for everyone. Besides, other property owners may have some suggestions on how to improve the building. This kind of projects will also require enough funds; thus, a sinking fund is a primary way of raising funds to pay for such expenses.
Also Read: What role can a good real estate agent play in buying or selling your property?
Seek Advice from The ExperiencedÂ
Find a professional management service you can trust to advise you before doing any significant changes. They can provide some valuable insights on what improvements shall be made, especially ones affecting the general property. Generally, the skilled managers also know the right people who are capable of doing repairs and renovations.
As you can see, there are many ways to maintain and increase the value of your strata property. Whether it is a small improvement or the big ones, they still add values nonetheless. Therefore, don’t wait until later before it cost you more as the deterioration gets worsen.
