The Netstrata Strata Saga: Episode 3
or, what if this strata manager crisis was a telenovela …
A Quick Read
Like any good telenovela, The Netstrata Strata Saga, which has been developing over the last 12 months, builds dramas and suspense, then either hypes you up with a shocking twist or lets you down with a disappointing anti-climax from one episode to the next.
Since the latest episode recently dropped, let’s review the story so far, see what’s happened now, and try to predict the next exciting chapter in the saga.
[a #:## minute read, with ### words]
The Full Article
INTRODUCTION
A telenovela is a kind of television serial drama or soap opera produced that is longer than a mini series but shorter than long-running television serial dramas that we usually
They’re beloved by audiences around the world [especially in Latin America] and have started to spread to Western audiences now, too. And, they’re fun, exciting, dramatic and entertaining.
In March 2024 a mini [or maybe a much bigger] saga began in the Australian strata title sector when ABC News started reporting about Netstratata’s [and other strata managers’] business practices around insurance and other commissions, related company business arrangements, disclosure to strata buildings and strata owners and whether or not strata consumers were being treated fairly.
And the saga is playing out progressively in steps as something new happens [or doesn’t], a new stakeholder or two becomes involved, something surprising [or expected happens, and we watch the developments with interest.
To me, it’s beginning to look like our own strata telenovela that’s playing out for all to see.
So, I’m going to explain the 2024 Strata Insurance Crisis here at GoStrata Media as if it is a television drama series/soap opera that I’m calling The Netstrata Strata Saga.
And, here’s my synopsis of the first three episodes that have played so far.
EPISODE 1: SPLASH, AND EVERYONE GETS WET, BOTHERED & IN A MESS
The first episode begins with all the characters lazily relaxing by the strata poolside: enjoying the benign temperatures, money is easy and plentiful, there are lots of private parties, fancy cars, luxury boats, and they’ve no cares in the world.
Suddenly, we notice a group at the far end of the resort: making increasingly loud and annoying noise, wandering over to the cabanas and asking annoying questions: things like what are we doing here, how much did it cost us, and where did we get the money from?
It turns out they’re not strata people. And, then we discover [shock horror] that they’re journalists trying to find out about the cozy little strata groups.
The interlopers are quickly bundled out, everyone is offended, and all agree that the journos don’t know what they’re talking about, there’s nothing to see or worry about, and they’ve got it covered.
But, when a few strata leaders decide to agree to be interviewed to ‘clear things up’ and the articles start appearing in the papers, television shows get aired and the interviews are broadcast [looking a bit like the BBC Prince Andrew interview] things go more than a bit awry.
A few main characters get written out of the script as they take leave to focus on their family and business, step down from their high-profile roles, and vanish from the Strata Community Association stage and from a few key strata businesses. Other characters don’t appear to have too many more lines anymore and aren’t talking all that much. Whilst some support actors begin speaking out, apparently, off script.
Gossip starts amongst the cast with rumours flowing [or flying], opinions expressed, alliances being broken [and formed], and suspicions growing.
The episode ends with plenty of uncertainty and nervous laughter at the latest strata party.
EPISODE 2: STAY CALM, WE’RE INVESTIGATING & MAKING CHANGES
The next episode in The Netstrata Strata Saga features a new and important character as NSW Fair Trading appears to ’save’ the day by promising changes to strata laws to increase transparency, investigations and action.
The new hero is looking good and settles strata citizens down, even though they suffer a self inflicted blow as their NSW Strata Commissioner is also written out of the script when he’s outed by the journalists.
Plus, the strata association characters [like Strata Community Association & the Real Estate Institute] talk strongly and positively about change. They're reviewing their rules, codes and approach to things, they’re changing their leadership, and saying that these revelations are one-offs and exceptions, but that we’ll do better. So, it looks like the PR machine begins spinning, and hard.
Conversely, the anti manager groups and pundits [like OCN and Jimmy Thomson of Flat Chat Wrap] feel empowered and start turning up more often in the scenes and singing out loud when the karaoke machines start with their refrains of corruption, unholy alliances, shock and outrage. It was to be expected, but also somehow uninteresting.
Meanwhile, a few surprising anti heroes emerge from unexpected places.
Some [like ACIL] are outing the excesses of strata insurance brokers and making complaints.
Professional pundits [like Amanda Farmer of Your Strata Property] host guests who proclaim moral purity as the way to redemption and strata happiness.
And advisors [like Michael Teys] are saying there’s lots that can be done to make things better for everyone, and here’s how I can help.
Then, in a sudden plot twist, the series villain [Netstrata] and the hero [NSW Fair Trading] appear to tell everyone they’ve agreed to work together to independently investigate things [enter McGrath Nicol, scene left] to see what’s right and wrong and to get everything fixed. And, that Netstrata’s paying.
It’s a twist no one expected.
But, even more surprisingly, one says it will vindicate them and the other says that it will be a transparent revelation of problems.
Who’s right and who’s wrong? Only time will tell.
The second episode ends with the strata party goers turning down the music, dimming the lights and drawing the curtains, hoping no one will notice them, whilst the strata buildings and strata owners feel content and confident that the government has got this.
EPISODE 3: IS THIS EVERYTHING, OR IS THERE SOMETHING ELSE WE DON’T KNOW ABOUT?
It takes a while for the next episode in The Netstrata Strata Saga to drop as the Netstrata investigation deal with NSW Fair Trading drags on [and on] and no one know why.
But, don’t worry, NSW Fair Trading creates a few new laws to stop bad behaviours by forcing strata managers and building managers to tell everyone when they are getting money and benefits, and why it’s OK.
It sounds great, but no one seems too focused on it.
So, it’s an anti-climax in the plot … at least for now.
Then, just in time for the first anniversary of the series launch, the McGrath Nicol report is released: 24 pages of vaguely explained problems in 8 strata buildings over 24 months from the small sample that was reviewed.
Viewers also learn that after the draft report was issued, Netstrata provided another 8946 documents and other material that hadn’t been seen before and that there’s a [drum roll] secret report that won’t be released.
After all the series villains, potential saviours and actual victims scour the report, they’re a bit surprised. They don’t see their names anywhere, there are no details of wrongdoing with names, dates and numbers, no strata buildings are identified, and there’s no support provided for anyone to take action to seek redress.
So, it’s another anti-climax in the plot … again, at least for now.
The hero [NSW Fair Trading] says the report [or at least their secret report] reveals serious stuff and there’ll be more [much more] coming.
The villain [Nestrata] says it’s a great report that vindicates their position and actions from the start, and that they’re making the very limited suggested improvements it identifies.
The side characters that have been sitting on the fence and hoping they’re not caught up in the report, yet simultaneously enjoying being strata voyeurs, hold their chins, shake their heads and tut-tut.
But nothing actually happens as the episode ends with a slow fade-out.
CONCLUSIONS
I hope you’re enjoying The Netstrata Strata Saga so far as much as I am, and also wondering what will happen in the next few episodes.
Will there be any new characters appearing?
Are the villains we’ve met so far really that bad?
Are there more or new villains that will emerge?
What happens to the long-suffering victims in the background?
Do the saviours that have appeared so far prevail, or do they falter?
Will an even worse [or better] plotline emerge?
What strange and unexpected alliances will form?
And, what apparently strong bonds between characters break as tensions increase and more is revealed?
I am watching keenly and can’t wait to watch and give you a synopsis of Episode 4 soon.
June 03, 2025
Francesco ...
A suggested plot line: lot owners get a charismatic leader who pushes for compulsory voting for lot owners and full transparency before any voting.