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Owners of Gold Coast units in strata complexes can be set to benefit from the upcoming Commonwealth Games, but there are some things to keep in mind before they can be up to a gold medal standard.
With the Commonwealth Games fast approaching, it is important that unit owners prepare their properties as much as possible to capitalise on the festivities, with Archers the Strata Professionals partner and Gold Coast office manager Kim Cullen saying that the Games will create “craziness” for the Gold Coast.
“Given the number of people who will be visiting South East Queensland and swelling the Gold Coast’s current population of approximately 640,000, you want to be ‘Games ready’ to ensure it will be a fantastic experience,” she said.
“It’s the body corporates responsibility to adjust their operations for the duration of the Games and we are encouraging those in small complexes without an on-site manager to ensure they are prepared for the disruptions and restrictions during the Games.
“All residents should understand the effects of the Games which may include restricted entry in their precinct, road closures, heavy police presence, parking difficulties, public transport delays and gridlocked traffic.”
The closure of parking areas in the Southport CBD and the increased number of people using public transport will mean that tenants will have difficulty getting around, and landlords could inform tenants of these difficulties through their property manager to make sure they can keep on top of work and travel arrangements.
“Parking in Southport for staff will be almost impossible due to current parking facilities in the area being closed and travel to and from work will be extremely difficult simply due to the increased numbers of people on the roads and in the public transport system,” Ms Cullen said.
For those utilising short-term letting services like Airbnb, the Commonwealth Games could be a profitable venture, but Ms Cullen said this would be an important test case for many.
However, research by Archers the Strata Professionals indicate that some strata residents are concerned about a lack of specific by-laws regarding short-term letting services, with nearly 50 per cent claiming they would like Airbnb to be addressed by their body corporate.
“As Queensland doesn’t have specific by-laws in place related to Airbnb and strata complexes, we encourage strata managers to work with residents to address any concerns they may have,” Ms Cullen claimed.
“Developments in technology and the popularity of the sharing economy have surpassed current property legislation.
“Currently, the legislation states that, where a lot can lawfully be used for residential purposes, a by-law cannot restrict the type of residential use. Therefore, in Queensland, a body corporate doesn’t have much authority to regulate against the use of lots for private short-term letting.”
The largest impact seen by this, Ms Cullen said, is being noticed in smaller schemes that lack a building manager.
“In those types of buildings, dealing with unplanned impacts such as increased noise, overuse of shared facilities, damage to common property and safety and security issues can be very time consuming for the volunteer committee members, and very expensive for body corporate as a whole,” she said.
“Consequently, we encourage residents to work with their body corporate managers to address any concerns they may have about Airbnb to find a solution to any potential issues.”
Body corporate is a term used to describe the entity that owns or represents the building owners.
An owner is an individual or entity that has legal ownership and rights to an asset or property.