Property Management

Woeful record of body corporates

RRESPONSIBLE BODY corporates could leave complacent apartment owners facing ruinous repair and maintenance bills, a property management expert warns.

Tuesday, May 04th 2004

Rob Macdonald, director of specialist property managers Crockers, in Auckland, has taken a swipe at the industry entrusted with the thousands of apartments springing up around the city.

He says many apartment complexes are poorly served.

"The performance of many property managers is woeful, lacking professionalism."

Macdonald says the property management industry is not keeping pace with the demands of maintaining modern high-rise buildings.

"Managing an apartment development has become far more complex. You've got major equipment such as lifts, heating systems and air conditioning to look after, not just a few shared letterboxes."

At the heart of Macdonald's concerns is body corporate administration which, he says, needs a shake-up.

"Too many body corporates are dangerously under-resourced and run by people with no long-term maintenance strategy."

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
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Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
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ICBC 6.75
ANZ Special 6.79
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AIA - Go Home Loans 6.79
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Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
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BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
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ICBC 7.85
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