News & Events

Protect Yourself and Your Property: Understanding the Risks of Strata Complex Defects in Perth

Have you ever considered the potential risks of Strata Complex defects? Defects in Strata buildings can significantly impact a building’s value, insurability, premiums, and even lead to some insurers deeming the building too risky to cover.

SVN | Strata are experienced in dealing with building defects, and believe it is crucial to be aware of them and address them as soon as possible to prevent long-term damage, maintain the safety and value of the property and avoid costly repercussions.

Defects in strata buildings are much more prevalent than you might think. Common building defects include structural defects, building fabric, waterproofing, electrical or plumbing faults, fire system faults, cladding, and roof coverings. Band-aid fixes are tempting, however, this can be more costly or hazardous in the long run.

Fortunately, compared to other states, WA offers property owners and strata companies considerable protection, it may not be perfect but we are certainly in a better position. Houspect discussed how in WA, we not only have the resources of the Builders Registration Board, the WA Building Commission, State Administrative Tribunal and Builders indemnity insurance, but also WA builders have a 6-year statutory warranty period. This is not the case in other states, such as NSW, where some property owners worry about the safety of their families and owners despair if their homes will ever be fixed – Click here to read more.

The advice from the SVN | Strata team is to be proactive rather than reactive. Don’t rely on ‘band-aid fixes’ but engage the expertise of qualified professionals and ensure you make the builder aware as soon as possible of any defects.

If you have any concerns about Strata complex defects, get in touch with SVN | Strata today. Our team are here to help and can provide you with advice on your potential options.

Sources for this article:
https://www.chu.com.au/news/6-common-building-defects-to-look-out-for-in-your-strata-property/

Strata Construction Defects – The Good, the Bad, the Ugly and the Very Wrong!


https://www.smh.com.au/property/news/patrick-s-apartment-block-has-defects-he-has-nightmares-of-being-buried-beneath-rubble-20230710-p5dn4h.htmldhow

OTHER NEWS & EVENTS

Important Considerations Before Buying a Strata Property in Western Australia

Investing in a strata property can be an exciting prospect, offering the benefits of shared amenities, maintenance services, and a sense of community.

Read More

Celebrating 20 years of evolution – A tribute to our company’s ever-changing journey

From its inception in January 2004, SVN | Perth has undergone a many changes, each representing a new chapter in its growth and evolution.

Read More

Maximising your Commercial Property Tax Depreciation

Whilst much interest is generally paid to rates of return and capital growth of investments, the varying tax…

Read More