Investors may be slugged with fees

By Reporter 07 August 2013 | 1 minute read

Investors with units need to prepare now for potential extra costs that could see some complexes being hit with tens of thousands of dollars in fees, according to Achers Body Corporate Management.

Pointing to the National Broadband Network, Archers Body Corporate Management’s Colin Archer said acting now to prevent difficulties during installation is going to be crucial for bodies corporate and investors.

Those that don’t take certain measures may end up with their strata titled complex left with a number of cables permanently visible on the outside of the building, or expensive bills if NBN installers need to return.

This is particularly crucial for those in smaller or older complexes. Having a contact person registered with NBN is an important first step.

“Even with registration, some buildings were unaware that the NBN was about to be serviced in their complex, so it would help to have a general idea of when you might expect it,” Mr Archer said.

“Keep in mind though that NBN installation is behind schedule, so it will most likely be later than the anticipated times allocated.”

Also be aware of the unique aspects of your own building. “Owners of older buildings in particular, need to discuss where the NBN cables will actually run,” he said.

“Newer buildings tend to have established conduits, whereas in older buildings the utility infrastructure is often set in the slab, so in the absence of a prepared solution, you could end up with NBN cables running all over the exterior of your building, which looks unsightly.”

Access is also crucial. “Some complexes will require minimal organisation for site access, but older buildings may need to go so far as to coordinate access to each individual apartment, depending on the complexity,” he said.

Investors may be slugged with fees
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