20 year defect period is a good start but it is long and arduous and costly for an owners corporation
It’s all good and well for government regulators to be cheering and patting themselves on the back for reaching this agreement of a 20-year defect liability period for the Sykview Apartment complex. The fact is, in every defect mediation process, large numbers of defects remain left off the table as the process of including them is usually more expensive than taking them to the mediation table. From my experience, this list of smaller defects excluded can be extensive and costly when compiled. Let’s not be patting ourselves on the back just yet, but it is a great starting place by those fighting for owners corporations.
It’s much more effective to have works done without defects so one doesn’t have to rely on warranty. Not to mention that warranties are very expensive to enforce. I am not across the individual defects the government are highlighting in this individual case and this article is not about this building, I am uncertain who this is a win for, A major list of minor defects is certainly not a win for the owners who have invested in any strata scheme lot.