Strata Asset Systems

When we undertake the site inspections, we are there to compile your detailed asset register of all the common areas and identify their condition.

It is not for depreciation purposes.

Ultimately, it’s up to the owners corporation (OC) to confirm what is included in this register for us to then forecast the capital maintenance funding requirements.
We also help identify the preventative maintenance activities once we know what is there

With locations like this one, we can help ensure there is sufficient funding well into the future so your investments continue to look good.

We’ve just released a refresh of our website.
We are so excited about the new look and feel!

Welcome to StrataWOLF…….

StrataWOLF - Whole of Life Forecasting for Strata Budget Planning Transform your strata budget preparation with evidence-based WOLF forecasting. Prevent special levies and improve planning confidence for owners corporations and strata managers.

We’ve just rolled out another budgeting update in WOLF. Real time revision of costings for the replacement of items on your asset registers.

For those subscribers with the ‘Pro’ versions, they will notice changes to their sinking fund forecasts that can then be presented to their AGMs.

Reach out if you needed help outlining the process to your owners or OC committee.

That’s what we’re here for.




WOLF - Whole of Life Forecasting

A key function of WOLF is to alleviate the pain for strata owners not knowing how much they need to budget for…..

Why strata industry needs to be fixed before it’s too late - realestate.com.au Apartment complex living is set to skyrocket across Australia. Ongoing issues with strata needs to be addressed now, experts say.

How do you ensure you have saved enough money for replacement items at your strata?
How much is needed for replacing carpets?
How far in advance do you need to start saving without having to set special levies?

When does the lift need to have major components replaced?
How do you forecast and plan that in?

We have extensive experience in life cycle modelling that helps assemble your maintenance plans and replacement budgets.

What is your utilisation of the lift?
Are there any commercial floors that add significant usage to a residential lift?

We establish a baseline life and calculate remaining life. We can add in variables depending on the proposed utilisation.

These change over time and can impact how much you need and have set aside for costs such as these.

Using WOLF, we want to make sure there are no shortfalls in funding that can have big implications for strata’s that haven’t planned correctly

Reach out for a chat to understand how we can help.

Some great insights here with this paper. In some instances, there is a conscious ignorance of ‘not wanting to know’ while others haven’t yet considered their liabilities of not maintaining their assets.

We are able to carry out these inspections to identify the current state of your assets, and with our “WOLF” software create your maintenance plans.

These plans include the creation of the budgets needed, using some innovative methods to minimise your risk from the lack of funding.

Reach out for more information.

www.assetsystems.com.au

DEFECTS IN STRATA PROPERTIES AND THEIR IMPACT ON INSURANCE: Building defects are a common issue in both new and existing buildings across Australia, especially as the demand for strata properties is growing and currently outweighs the supply. Approximately 75 to 851 per cent of strata buildings are estimated to have at least one form of known defect. If defects are left unaddressed, they can have a significant impact on the strata insurance policy, to the premium and excesses.
READ the full article by CHU Underwriting Agencies here: https://inside.strata.community/defects-in-strata-properties-and-their-impact-on-insurance/

http://assetsystems.com.au/

Strata Asset Systems | Whole of Life Forecasting Strata Asset Systems provides an affordable subscription-based service for Strata managers, Owners Corporations and Strata Owners. We've developed 'WOLF' a real-time, risk-based budget setting tool for strata maintenance and renewal activities.

When we understand the condition of your items in your asset register, we can determine when to forecast to replace.

We use industry leading methods to assign how much and when.

Our costing process is shown in real time. No more making inflation assumptions for escalating the price to replace.

Our costings are reviewed monthly so you can log in and see your budget forecast in todays money. Every day!

No more special levies for funding shortfalls

Great initiatives to support strata owners. Improved forecasting and planning of expenditure makes sense. It also provides evidence of what and how much should be saved for your sinking funds.

Call to find out how

1800 97 95 58

MEDIA RELEASE - Federal Budget 2023-24 highlights the importance of strata to achieve Federal Government’s Agenda.

Last nights delivered significant victories for the industry in Australia.

SCA National President Chris Duggan was encouraged to see the Federal Government implement supportive measures to ease the cost-of-living pressures impacting households, along with some promising considerations for the strata sector.

“There are several funding initiatives in the resilience and preparedness space, as well as in urban policy and housing and homelessness that provide a great opportunity to launch strata-living onto a federal agenda, and we’re engaging proactively across each of these strategies,” he said.

Read today's full media release:https://www.strata.community/_files/ugd/276112_573257a7395a4315a9bb15a5d6f333a8.pdf

How to create your maintenance plan?

Assemble your asset register.

We undertake a site inspection to build your asset register and understand the asset condition.

We can then forecast when to budget for replacement.