For the Strata Schemes Management Amendment Bill 2024 to strengthen the sector, an education program for owners’ committees should be delivered prior to other significant changes within the legislation. This can help ensure long-term industry sustainability according to PICA Group CEO Bobby Lehane.
“We welcome the reforms and congratulate the Minns Government for their steps towards improving the sector. However, we know that the strata manager inevitably becomes the face of these changes, and without the prerequisite training of committee members, the additional burden will have a negative impact on both strata managers and consumers, and will undoubtedly result in increased costs”
“Whilst our focus as a strata management company is working with owners to deliver exceptional service and truly enhance these communities, much of our time is consumed interpreting legislation while informing and educating owners committees. Without first delivering education to owners, any changes will create chaos,” Bobby said.
The comments come as this week PICA Group engages with the Minns Government, NSW Opposition and crossbenchers to make recommendations around owner education, as the NSW Parliament considers important amendments to strata legislation.
“According to Macquarie Bank benchmarking the strata management sector will soon struggle for financial viability after a decade of decline. This is concerning, as it is expected that 50% of people in New South Wales will be living in strata over the coming decades. We need to find an approach that works, and educate all parties involved so they are aware of their responsibilities,” Bobby said.
PICA Group has up to 200,000 properties under its management across the country, looking after the interests of 500,000 tenants and owners every day. They have a commitment to helping property owners and renters build an effective strata community, creating frameworks to help deliver informed and responsible leadership.
“Strata managers are dealing with a complex set of issues that often are outside of their control, without proper support, owner education and reform the sector viability will continue on its decline towards aged care levels of profitability,” Bobby said.
If you are interested in knowing more about the strata management review, visit the NSW government website, or visit the PICA Group website.
Tammy Wayne-Elliot, Fifty Acres
t: 0414 428 440 e: tammy@fiftyacres.com
At PICA Group, community living has been our passion since 1948. As Australia’s leading property services provider, our offerings cover strata and facilities management, debt recovery, legal and developer services. This wide range of products and services helps optimise the longevity of your property.
Our mission extends beyond property management; we recognise that your building is more than just an asset – it reflects who you are and your way of life. We aim to manage it with the utmost care and attention, helping create positive, vibrant and flourishing communities where you can truly thrive.
Bobby Lehane
Managing Director and Group Chief Executive Officer
Bobby has enjoyed success across a range of industries and in multiple countries. He has experience transforming businesses, building and leading high-performance, diverse, inclusive teams in digital disruption, and delivering exceptional financial outcomes. Bobby has held senior roles at organisations including Zurich, Multiplex and Commonwealth Bank of Australia, working in Ireland, the UK, Japan and Africa before settling in Australia. Prior to joining PICA Group, Bobby was Chief Executive Officer of CHU Underwriting Agencies.
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