Where to in 2024  ! 

Colin Grace - Partner, Grace Lawyers 

Based on common issues that strata communities face, here are some potential challenages that could continue to face us in 2024 : 

Maintenance and Repairs : Aging buildings and infrastructure may require extensive maintenance and repairs and funding for these projects can be a significant challenge.

Budgeting and Finance : Balancing the budget to cover ongoing expenses, planned maintenance and unexpected repairs can be a constant challenge for strata communities.

Legislative Changes : Keeping up with changes in strata laws and regulations, which vary from state to state, can be complex and time consuming.

Disputes and Conflict Resolution: Resolving conflicts among residents, between residents and the strata committee, or with neighbouring properties can be a significant challenge.

Aging Population : Strata communities may face challenges related to an aging population including accessibility issues and th eneed for special accommodations. 

Insurance Costs :  Rising insurance costs especially after events like natural disasters, can strain strata budgets. 

Sustainability and Energy Efficiency : Implementing environmentally friendly practices and energy-efficient technologies can be a priorty for many strata communities, but this may come with initial costs.

Technology and Security :  Adapting to new technologies for access control, surveillance and communication systems can be both a challenge an dan opportunity for strata communities.

Short-Term Rentals and Airbnb : Balancing the interests of owners who want to rent out their properties on platforms like Airbnb with the concerns of other residents can be a contentious issue.