Strata Title in a World of Climate Change

These days limate change is affecting everything in this world - including strata title.

A research team led by Professor Chris Guilding and including Dr Jan Warnken, Dr Dawne Lamminmaki, and Professor Bill Randolph have secured a research grant from the government funded  National Climate Change Adaptation Research Facility to examine the functioning of strata corporation committees in a world of increased climate change. And, they've engaged me to conduct the study over the next 16 months. 

The objectives of the study include -

• Examining the extent to which uncertainty is built into strata corporation common property capital expenditure forecasts.
• Examining the adequacy of strata committee decision making powers and the adequacy of procedures relating to the release of funds in the face of increasing common property expenditures combined with a greater incidence of emergency expenditures.
• Providing legislative recommendations to ensure the executive in strata complexes appropriately protect complexes against increased damage occurring in world of climate change.

When the study is completed it will deliver a few things (at least) as follows.

1.  A manual for strata corporation members, “sinking fund forecast” professionals, building insurers and strata managers detailing how uncertainty is currently built into common property capital expenditure forecasts and what constitutes best practice for incorporating greater flexibility into common property capital expenditure forecasts.

2.  A report for legislators that details legislation recommendations that will promote strata corporation and strata committees maintaining the physical integrity of common property in a world of heightened climate change building damage.

3.  A series of papers that disseminate the study’s findings.

Interested strata stakeholders should contact me to find out more and to be part of the study (in whatever way is suitable to them).

It's one of the first research exercises about the effect of environmental issues on strata corporation operation, management, funding and governance.  And, should reveal some interesting challenges that will be faced by strata corporations trying to deal with uncertain and unpredictable events and possibilities.

Francesco …