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Small scale housing unit developments: Implications for strata manager market penetration

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Altmann, E (2016) Small scale housing unit developments: Implications for strata manager market penetration. Property Management, 34 (3). pp. 262-275.

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Abstract

Purpose: Some multi-owned housing developments do not appoint an external strata manager. This paper highlights how governance is negotiated when there is no strata manager in place.
Design/methodology/approach: A semi structured interview was conducted as a case study to contrast and highlight issues that occur where no strata manager is in place.
Findings: The lack of a manager presented particular difficulties when negotiating outcomes. A market gap is identified highlighting implications for how strata managers may increase future market penetration.
Research limitations/implications: The number and spatial occurrence of strata titled complexes operating without a formal governance structure in situ is not known. Further research needs to be undertaken in this area.
Practical implications: The resilience of Australia’s densification policies is dependent on how owners perceive and adjust to additional layers of governance. Difficulties arise for the individual and the scheme as a whole where no formal mechanism is operational.
Social implications: As cities become more dense, multi-owned property is increasing. Where governance mechanisms fail, or fail to be implemented, sound governance outcomes may be problematic.
Originality/value: The issue of multi-owned property operating without or outside a governance structure has not previously been considered.
Keywords: Governance, Apartments, Professional management, Market gaps, Property

Item Type: Article
Keywords: Housing, Apartment, Town houses, Strata manager, strata title, market penetration, medium density, compact city
Journal or Publication Title: Property Management
Publisher: Emerald
Page Range: pp. 262-275
Identification Number - DOI: 10.1108/PM-06-2015-0025
Date Deposited: 07 Mar 2017 03:21
Last Modified: 07 Mar 2017 03:21
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