‘Softer’ market conditions to open up more opportunities for upsizers, experts say
After two years of facing several hurdles, experts say that upsizers should take advantage of the softening market condi...
Unit owners may have to fork out tens of thousands of dollars under changes to the National Broadband Network (NBN) rollout, a major body corporate company has warned.
Under the revised network, 900,000 households will no longer be guaranteed a full fibre connection to their premises (FFTP).
In these non-NBN areas, a connection will be installed to the complex, but individual owners will be required to pay for NBN access to their unit.
According to Archers Body Corporate Management senior body corporate manager Michael Ryall, the exact nature of the process and costs have not been made clear.
“At this point, NBN Co cannot advise exactly what the future policy or costs will be, only that the current policy is under review,” he said.
He advised unit owners to check the NBN website to determine whether they fall within an NBN zone.
“If you are in an area where the NBN rollout has not yet begun and you would like FTTP, the current Coalition policy is that each unit owner must pay to have cables connected from the complex connection to their unit, or the body corporate or owners corporation could install a new backbone through the building to accommodate cables leading to multiple units,” he said.
He warned that while the price would depend on a number of factors, including size and existing infrastructure, the cost may be similar to installing Foxtel infrastructure in a complex, which is in excess of $10,000.
All unit owners should register on the NBN website to stay up to date with developments, Mr Ryall said.
“Registration of a contact person is critical for all units so that you don’t miss out on the NBN altogether or have to pay for the cost of the entire installation if, for some reason, NBN contractors need to return,” he said.