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| From: | SP52948 owner |
|---|---|
| To: | BCS Strata Management, EC members |
| Subject: | SUMMARY SP52948 Current State of Complex Management on 5Oct2015 |
| Date: | 5/10/15, 7:22 pm |
Hello,
It is my duty to advise, as owner and/or investor, that you have right NOT to receive any updates if you wish so.
I am sending the information because it is in your interest to avoid massive and persistent mismanagement of common funds and pending large expenses due to neglect of complex.
It is now seven months since the first (and last) official EC meeting was held in FY 2015. One official EC meeting in one whole year, and that comes at the time when so many things need serious attention!
One way or another, whoever is the new EC member must ensure the diligent work and openness is protected. You are welcome to join a new team to start afresh.
Those that have nothing to hide can easily prove it by providing evidence that can be verified.
1. In next week or two, Department of Fair Trading will contact BCS Strata Management in regards to SSMA 1996 S108 and mismanagement of the complex during 2015.
2. Latest version of request to access financial and other documents as per SSMA 1996 S108 is ready.
It includes requirement to provide evidence of competitive tenders for insurance renewal in September 2015, which was awarded to QBE. The renewal’s expense to owners corporation is $72,456.06.
Back in FY 2013, QBE was overly expensive and owners corporation overpaid the insurance:
Strata Plan: SP52948
Strata Address: 1-15 Fontenoy Road, Macquarie Park, NSW 2113
Insurer Name: QBE Insurance Group Ltd.
Policy Number: 836665
Start Date: 21/09/2012
Expiry Date: 22/09/2013
Premium: $84,414.77
Broker Name: Gallagher Broking Services
In most years, SP52948 used CHU or QBE for insurance purposes. It is actually the same company. QBE acquired CHU Underwriting Agencies in 2005.
SP52948 has poor experiences with them:
- CHU rejected claim for lift cables in 2010, which were damaged by staff of Electrical Solutions company in attempt to secretly upgrade power switch to help Optus get enough power for mobile tower installation on the roof of Block C. Electron Management company got involved in dodgy "repairs" which cost owners corporation around $50,000.00.
CHU refused the claim although it was purely a damage by incompetent staff of Electrical Solutions (short-circuited two phase of power supply to lift in Block A).
- CHU paid symbolic insurance claim for bad hot water system upgrade in Block D in 2012. The company that BCS Strata Management used for repairs declared bankruptcy and they could not be chased for appalling work. Just for Block D, the expenses for hot water leaks and boilers are in excess of $60,000.00 in period September 2011 and June 2015. Even more intriguing is the fact that the hot water boilers were replaced THREE times in period of around seven years in Block D! It took almost two years to receive warranty claim of measly $783.50 from CHU. And when the hot water tank was replaced in 2012, it lasted only three years, when, after numerous additional repairs, $46,200.00 was spent in June 2015.
- In addition, QBE and underwriter CHU were involved in four insurance claims in non- existent defence case for owners of Lot 3, amounting to almost $25,000.00:
BCS-Strata-Management-Secretly-Engaged-Solicitor-and-Made-Insurance-Claims.pdf
3. The substandard repairs, wrong invoices, and other problems continued. Lot of work is still outstanding.
4. I can understand why some owners do not wish to get involved. Take a look at what happened to an owner of Indian origin.
Finally, no owner was exposed to abuse and threats that I had experienced, so no apologies for actions on my side. I simply want equal rights and proper management of the properties in the complex.
5. Finally, it is interesting to learn more about how BCS mismanages other complexes. I am getting so much information from other sources and we are uniting to deal with it.
My activities uncovered what strata manager Simon W. did in another complex nearby this year. They use CHU insurer (QBE group).
Simon was out strata manager for a short time, until he was removed. BCS keeps on moving their staff between complexes when things become "dangerous":
Failure of an electricity cable that should be covered by insurance. There was a failure in shop on the ground floor in the building. By delaying the repair and temporarily hooking up the shop to the building's working power, the matter was delayed for months. Ausgrid could do the job for $2,500 to $6,000 at a cost to the insurer but now Electron are going to do the job for $25,000 + GST to renew the power cable to the shop. This is four times the original maximum quote by Ausgrid to come from the owners' sinking fund, instead of the insurer's fund, because Simon Wicks asked at their AGM if the owners would vary the insurance policy because the insurance company had asked for it!?. With an outstanding claim and quote dated April, the attendees at the AGM not having seen the quote or even being aware of the implications of their going along with the request, agreed to lessen how much the insurer pays and took out electrical failure without any reduction in premiums.