I have seen examples of this, and many OMCs are not best placed to deal with this kind of project, despite some claiming they can. I seem to see a bit of a "gold rush" since the announcement of the construction defects scheme of MUDs, who now decide they have such extensive issues and want to levy all unit owners to get a head start on works before they get a big application in. I am stuck in one that has seen its value drop 20% since they decided to take this path despite the area seeing 9% growth. I looked at getting out and saw some other apartments that looked reasonable in price, but when I enquired, I found the price had to do with the issues with the block (never an issue a couple of years before), and they are going to go to the redress scheme. Some OMCs might see this as an "opportunity" to get government money to improve their neglected asset and feel they have nothing to lose - the "levies" for some of the landlords or self-employed or pension funds are just another accountancy trick. The only losers are really those who live in the blocks, especially the PAYE owner occupier. The best approach would be for the government to insist on independent assessments before proceeding and keep the OMCs as far away from the process as possible. At the moment, they are saying all sorts will be able to be claimed, including various "consultant fees", which you know when any funds finally come in, will only cover a fraction of the reality. The wealthier landlords will shrug shoulders and say, "We thought we could claim that", and the poor owner occupier, financially destroyed, who got dragged on this journey, is just seen as collateral damage.
Like the opening post, a few seem to want to dictate the whole narrative of the OMC while repeating, "We are just volunteers", but at the same time, keep a tight grip on who is and can be directors.
Living in MUDs is a disaster, and these construction defects scheme levies highlight that the current MUDs Act needs massive reform. There is something about apartment property management and overly keen owners to become OMC directors that just seems to attract the most questionable of folk.