Why does the strata sector fear transparency?

Just strata sayin …

For decades leading #stratatitle stakeholders have wondered why it’s been so challenging to get alignment between the key protagonists.

• On the one hand: strata buildings, owners and residents as the consumer principals.

• On the other hand: strata and building managers along with the service and product suppliers to strata buildings.

There’s been lots of theories about it which I’ve heard, debated and participated in. Without any clear answers or success.

Over that time, I've come to believe that it's the lack of transparency [and in many instances censorship] of strata information]that is the fundamental challenge to be overcome.

Strata opaqueness [or is that opacity] happens in a few ways.

It’s the myriad difficulties strata owners face getting accurate, up-to-date, and complete information about their buildings because of artificial barriers that get created, low efforts on record keeping and management, and the downplaying of owners’ rights to that information; leading to strata owner ignorance [not their fault] and reduced agency.

It’s the creation of cliches or cabals where only a few people in strata buildings really know what’s going on and they keep that information secret to avoid scrutiny, maintain their status, and for their egos; creating mistrust, suspicion and lack of confidence in strata managers and committees. .

It’s the cushy relationships between strata managers and industry suppliers that are not, or only partially disclosed, that accrue all kinds of benefits on the strata managers and the suppliers, and that cost strata buildings money; usually all happening in breach of fiduciary and other duties that apply.

It’s the faux elitism that’s emerging in the strata sector where some stakeholders claim professionalism and excellence as a mutual back-slapping exercise whilst most strata buildings are not properly maintained, are under budgeted and funded, have marginal strata owner involvement, and strata owners and residents complain about day to day service levels; resulting in strata title being the poor cousin amongst real estate ownership and living choices.

I suspect these things occur out of a misguided fear that transparency, honesty, and providing good strata management, services, supplies, and advice will alienate strata buildings and prejudice business outcomes. When, in fact, there just aren’t enough strata businesses [of all kinds] to meet the existing, let alone future, strata sector needs.  So, there’s more strata business than all the strata businesses can handle.

A complete rethink and turnaround about strata transparency is required if strata ownership and living are to become the predominant and best way for Australians to own, rent, live, and work in the future.

I’m doing my part by providing more, better, useful, and independent strata information for all strata citizens.

What’s everyone else going to do ???

Just strata sayin …..

November 24,  2023

Francesco ...