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Property professionals to benefit from new industry partnership

With building defects a costly issue for the property industry, DBS and Strata Community Insurance have signed an agreement to provide ongoing education on this issue for industry professionals.

The new partnership between Deakin Business School and Strata Community Insurance will extend and expand the popular, practitioner-focused Strata Concepts forums, support the development of sorely-needed resources and will set an educational and research agenda to benefit the industry for years to come.

Strata Concepts goes online, nationwide

The agreement ensures support from Strata Community Insurance that will initially allow the Strata Concepts forums to be delivered online, with bespoke toolkits provided for Queensland, South Australia and Western Australia, on top of those already available for New South Wales and Victoria.

Under the agreement, the proceeds from the Strata Concepts events will go into the development of a new series for 2021, with a clear focus on giving back to industry through education and professional development, providing the tools required to advance Strata industry business practices.

In time, the scope of education provided through the forums will be expanded to address a wider range of practitioners such as conveyancers, valuers and other professions on the periphery of strata.

Giving back to industry

Dr Johnston says of the partnership “One of the core values of Strata Community Insurance is to give back and help educate the industry.  It was very clear to me that both Deakin’s Strata Concepts vision aligned well with SCI’s vision and the partnership was formed.”

“We will be able to reach more industry professionals through this partnership, utilising the support and resources of Strata Community Insurance.”

Strata Community Insurance Managing Director, Paul Keating states “Our positioning as both an advocate and enabler of education drives our commitment to investing in research and best practice for the benefit of the strata community.  For this reason, we’re delighted to partner with Deakin University to deliver insights and practical tools that can support, build and enhance knowledge within the industry.”

Supporting vital research

The agreement also supports further research to benefit the industry based on an agreed agenda.

Of the future research, Dr Johnston says “Work on building defects must continue. We are certainly not out of the woods in any respect. We need to understand defects better – the risks that specific defects pose to a building and to resident lives is key. The financial implications also need to be quantified and exposed. A main focus should also be on how defects impact long-term maintenance plans for buildings. The list goes on and on.”

A shared vision for better practice

Dr Johnston says the partnership came about because, “Strata Community Insurance has always taken a keen interest in my research work and more specifically how research can inform industry both via education and better practices.” Her 2019 research uncovered the extent and prevalence of building defects in Australian construction, and highlighted their impact on the property management profession.

The Strata Concepts forums were a natural extension of this research as a means of providing education and resources to professionals lacking effective toolkits to assist in remedying building defects and deal with other problems endemic to multi-owned properties.

After the first Strata Concepts event in Melbourne, Dr Johnston says “Strata Community Insurance reached out, keen to be involved in any opportunity to advance the education forum, leading to their sponsorship of the second face to face forum in Sydney in 2019.”

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