Craig’s 2024 reflection

Written By Craig Baylis

Thanks so much for your support throughout 2024. We truly appreciate the trust you’ve placed in us and look forward to working together in the year ahead.

2024 has been quite the year and notably we’ve seen:

  • 25% of our reports are now commissioned by agents as a Vendor Strata Report. This number is increasing as more agents and vendors see the value in facilitating a smoother sales process.

  • Strata levies still seem to be trending upwards as insurance premiums and other Administrative Fund costs (electricity, lawns and gardens, Strata Manager) increase.

  • A high profile strata firm exposed on the ABC regarding excessive fees. With the outcome of the investigation from Fair Trading yet to be made public we expect more news about this any day. This in turn will likely trigger strata owners to ask more questions of their Strata Managers about their fees. 

  • Following on from the excessive fees, in February 2025 strata legislation is changing. Strata managers will need to disclose more detailed information with owners corporations about their connections with suppliers and developers, and commissions and training services they may receive. 

More personally:

  • We successfully moved office from Wollongong to a new space in Warilla. Not to do anything by halves I went all in and created a coworking space called Niche Cowork, where Coastal Strata operate from 1 of 4 private offices. After completely renovating the Suite Niche Cowork opened in May 2024 as a coworking space for a community of business and creative professionals. Featuring day passes, private suites for a day, meeting room & event space. 

Thank you all. I wish you all Merry Christmas and a wonderful break. Our office will be closed from 5pm Friday the 20th December 2024 and reopen at 9am on Monday 6th January 2025.

Craig Baylis
Managing Director at Coastal Strata

Craig Baylis
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