123 Elouera Rd
123 Elouera Rd Cronulla NSW | 1234
54321
Strata Number
3
Floor Levels
7
Units
1995
Year Built
Summary
Located in the heart of Cronulla, this building offers a fantastic lifestyle with its close proximity to beautiful beaches and a vibrant community. Pet lovers will appreciate the pet-friendly policies, allowing a variety of animals. Residents can enjoy outdoor cooking with no restrictions on BBQs. The recent reduction in insurance premiums for 2024-2025 is a positive indicator of cost savings. Additionally, the building demonstrates a strong commitment to fire safety with regular inspections and compliance with regulations.
While the building has many appealing features, there are some concerns to consider. The presence of asbestos in various components requires attention, and the outdated report needs updating. The risk of termite infestation is high due to inadequate termite shields and wood rot. Structural issues, including spalling concrete and a collapsed load-bearing pier, need immediate repair. Potential buyers should also be aware of the possibility of future special levies for unexpected capital expenses. Lastly, the lack of electric vehicle charging infrastructure may be a drawback for EV owners.
Report Details & Analysis
Highlights
Location
Situated in Cronulla, a desirable suburb known for its beaches and vibrant community.
Pet-Friendly
No restrictions on pets, allowing for a variety of animals including dogs and cats.
BBQ Allowed
Residents can enjoy outdoor cooking on their balconies or courtyards.
Recent Insurance Premium Reduction
Insurance premiums have decreased for the 2024-2025 period, indicating potential cost savings.
Fire Safety Compliance
Ongoing commitment to fire safety with regular inspections and compliance with regulations.
Asbestos Concerns
Presence of asbestos in various building components, with an outdated report requiring an update.
Termite Risk
High risk of termite infestation due to inadequate termite shields and wood rot.
Structural Issues
Evidence of spalling concrete and a collapsed load-bearing pier requiring immediate attention.
Special Levies for Capital Works
Potential for future special levies to cover unexpected capital expenses.
No Electric Vehicle Charging Infrastructure
Defeated motion to install electric vehicle charging stations, which may be a drawback for EV owners.
Financial
Budgets
Capital Works Fund Plan
Meeting Minutes
Special Levy
IMPORTANT
As of the AGM on Apr 16, 2024, the budget for the Capital Works Fund includes a levy income contribution of $5,500.00, consistent with previous periods. However, the Owners Corporation has consistently decided not to adopt the Capital Works fund plan and will raise a special levy to cover any required capital expenditure. This decision has been reaffirmed in multiple AGMs dating back to Mar 05, 2019. Potential investors should be aware that significant capital works will be funded through special levies rather than pre-planned funds.
Electric Vehicle Charging Plans
IMPORTANT
As of the AGM on Mar 24, 2020, the motion to pass the 'Car Charger Works Programme' By-Law for electric vehicle charging was defeated. The Owners Corporation will not proceed with plans to install electric vehicle charging infrastructure at this time.
Plumbing
IMPORTANT
The plumbing budget for the financial period 01/02/2024 - 31/01/2025 is set at $860.00, despite the previous period's actual expense being $1,553.75, indicating a significant overrun. The previous year's budget was $500.00 with an actual expenditure of $550.00. The strata scheme offers 24-hour emergency plumbing services.
Insurance
IMPORTANT
The building's asbestos report, over 10 years old, needs updating as requested by the current insurer, SCI, to positively affect insurance premiums. The Owners Corporation has confirmed necessary insurance coverage but decided against adding Office Bearers Liability and other specific covers. Owners are advised to obtain Contents Insurance for elements not covered by Strata Building Insurance, with C.H.U. offering comprehensive options. The Strata Committee will review and advise on insurance changes before renewal.
Asbestos
The Owners Corporation has decided to engage a qualified expert for an updated asbestos report, as the current report is over 10 years old and required by the insurer, SCI, for offering terms. This update is expected to positively affect insurance premiums and result in cost savings. Previous decisions in 2020, 2021, and 2022 opted against routine asbestos inspections despite recommendations from the Strata Managing Agent.
Roof
The proposed budget for the financial period 01/02/2023 - 31/01/2024 includes $1,000.00 for roofing and gutters, a slight increase from the previous period's expenditure of $924.00.
Security
Owners are permitted to install additional security devices in their apartments as long as they comply with fire safety regulations. A security guide developed with NSW Police is available. CCTV cameras have been installed on common property, with maintenance responsibilities falling on the lot owner and future owners.
Fire Safety
IMPORTANT
The Owners Corporation has consistently ensured compliance with fire safety regulations by confirming the Annual Fire Safety Statement and conducting inspections through competent contractors, currently Winfire Pty Ltd. A child window safety device inspection is included during the fire safety apparatus inspection. A 'Special By-Law - Recovery of Costs for Fire Services & Works by Owners' was passed in April 2024 and will be registered with NSW Land Registry Services to recover related costs from owners.
Depreciation & Engineering Reports
Elevators
The capital works fund plan from Sep 13, 2022, does not provide specific information on elevator maintenance due to varying lift contracts. The Strata Committee needs to ensure elevator maintenance is included in their planning.
Building Envelope
IMPORTANT
The building envelope requires significant attention due to various issues. Key concerns include potential asbestos in inaccessible areas and eaves/soffit, which are rated very high risk and need immediate action. Significant repairs are needed for the facade, including rotten fascia boards, doors, and windows, to prevent water intrusion. Roof maintenance and exterior repainting are scheduled, with costs projected over the next 15 years. Termite risks are high due to inadequate termite shields and wood rot, necessitating regular inspections and immediate remediation.
Plumbing
IMPORTANT
Plumbing maintenance includes repairs for water, sewer, and stormwater systems, with the next scheduled maintenance in 2027 at an estimated cost of $891. Future costs are projected to rise due to inflation. There are current water leaks below unit 1 from an old ceramic pipe, which need immediate repair to prevent termite activity and structural issues.
Windows
IMPORTANT
The building's windows require repair or replacement due to rot, which is crucial for maintaining the building's integrity and preventing water damage or air leakage. Additionally, window safety devices must be installed in all openable windows of apartments above a certain height, as mandated by the Strata Schemes Management Act 2015 and the Strata Schemes Management Regulation 2016. An allowance has been made for these installations, and quotations can be obtained from the office.
Structural
IMPORTANT
The building has had significant structural concerns. A collapsed load-bearing pier was reported in February 2022, requiring immediate attention to prevent further structural failure. Additionally, spalling concrete areas noted in October 2023 need investigation and repair. However, a September 2022 report indicated the overall structural integrity was sound, with no major issues in critical components. Regular maintenance is recommended to ensure ongoing stability and safety.
Mechanical Systems
The building features individual hot water systems, a car park mechanical ventilation system, and a common area air conditioning system. The condition and maintenance of these systems are currently undocumented, necessitating further investigation. Ongoing maintenance programs and regular assessments are recommended to ensure the functionality and longevity of these mechanical systems, especially in harsh environments.
Asbestos
IMPORTANT
Asbestos is present in various locations within the building, including eaves/soffit, backing boards near electrical units, asbestos cement products, and electrical mounting boards. It is non-friable with low contamination risk. Recommendations include keeping eaves/soffit painted or sealed, replacing backing boards when practical, and periodic monitoring. Inspections are required before any work on asbestos cement products, and further detailed inspections (Level 2 or Level 3) are suggested. Strict regulations on asbestos management exist, with significant fines for non-compliance. Renewal date for the Asbestos Report is April 19, 2029, with a renewal fee of $352.
Mold
The building condition report from Feb 12, 2022, highlights the importance of moisture management to prevent mold and fungal decay, which can attract termites. Poor ventilation in subfloors and wet areas is a concern. Regular maintenance and professional pest control services are recommended.
Fire Safety
IMPORTANT
The building lacks fire stairs, posing a significant risk during emergencies. It is recommended to review fire safety measures for compliance with safety regulations. The capital works fund plan relies on external contractors for fire safety maintenance, with no specific details or allowances made unless directed by the Strata Committee or Representative.
Bylaws
The bylaws set by the building council are subject to override by federal or provincial laws, such as the updates to BC's strata laws in 2022 (Canada)
Rental Restriction
There are no specific restrictions on the number or percentage of units that can be rented out, minimum lease duration, age restrictions for occupants, or prohibiting certain types of rentals such as short-term or commercial rentals.
Pet Restriction
There are no current pet restrictions in this building. Owners or Occupiers may keep pets such as goldfish, canaries, budgerigars, up to two domestic cats, or up to two dogs, with registration required. Guide dogs are permitted under the Companion Animals Act 1998 (NSW). Pets must not interfere with others' enjoyment, cause noise disturbances, or be unhygienic. Restricted dogs include menacing, dangerous, and those defined by the Companion Animals Act 1998.
Renovation Rules
Minor renovations (kitchens, bathrooms, laundry areas, light fittings, flooring, wiring, pipes) can be approved by the Strata Committee with an application submitted 14 days prior. Structural renovations and waterproofing are prohibited. Approval cannot be unreasonably withheld but may include terms like noise restrictions. Renovations are added to a register with associated fees.
Barbecue Guidelines
The by-law allows owners or occupiers to use BBQs, outdoor stoves, or similar products for cooking on their balcony or courtyard.
Smoking Restriction
Smoking is prohibited on common property and smoke must not penetrate to the common property or other lots.
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