Sydney – Protecting Property: Strata Asset Management Risks and Opportunities

Property is one of the most valuable and complex asset classes, yet residential strata continues to face major risks from defects, poor information handover and weak governance. This event will explore how fragmented practices have left property owners and managers exposed, with issues such as missing design records, incomplete asset registers, warranty disputes, and inadequate lifecycle planning driving up costs and eroding confidence in the market. By referencing the Building Manual Guideline, the discussion will show how better systems, accountability, and transparency can protect property value while reducing financial and safety risks.

The program will highlight the case for change, shifting strata property asset management from reactive maintenance to proactive, data-driven practices. This includes upskilling strata managers and owners’ corporations, embedding robust governance structures, and adopting tools such as digital records, lifecycle costing, and transparent levy planning. Key themes include liability management, procurement responses, ownership and co-funding models, and the legal ramifications of poor documentation. Central to the discussion is how build quality achieved at the design, approval, and construction stages can be effectively translated into long-term occupancy asset management, ensuring properties remain safe, durable, and financially sustainable throughout their lifecycle.

Building on industry milestones such as the Shergold Weir Building Confidence Report (2018), the NSW Government’s response (2019), the Strata Community Association’s Building Manual Guideline (2020), and Engineers Australia’s 2023 report on managing building defects, the event will emphasise that while property owners face genuine risks — from systemic defects and water ingress to unexpected financial shocks — there are also significant opportunities. Smarter property and strata asset management not only protects buyers and owners from risk but also enables innovation in sustainability, transparency, and long-term value creation. By addressing “buyer beware” challenges head-on, the sector can move towards stronger, safer, and more resilient communities that align with both local and global best practices.

James Sherrard is the NSW Building Commissioner. He has worked in the construction industry for the past 30 years most recently spending three years with Transport for NSW. Prior to this, James worked in the private sector as a consultant and project manager in the civic, residential and commercial sectors. He has worked extensively overseas and is a qualified and experienced builder.

Stuart Smith is Managing Director of WebFM, an innovative company that specialises in facilities management and provides web-based solutions and consulting services. Stuart has been instrumental in developing new standards in project completion and asset management. He was the principal author of the new Australian Building Manual Guideline in conjunction with the Strata Communities Association and Engineers Australia. The Guideline sets out the acceptable standard for the content of a Building Manual at project handover and responds to the Building Reforms in the Shergold Weir Building Confidence Report.

Brendyn Williams is the Managing Director and Principal Consultant for private engineering management consulting firm Pentagon Management. Brendyn is an experienced leader and manager within the private, government and not-for-profit sectors, with qualifications in civil engineering, civil construction, business management and project management. With 30 years’ experience in the building and construction industry, primarily associated with end-to-end infrastructure asset management, Brendyn provides a range of hands-on professional services to help organisations meet requirements, manage risks, and build capability to optimise outcomes.