Seems there's some misunderstanding of the strata/FM sector and...

Seems there's some misunderstanding of the strata/FM sector and in fact the revenue model that Urbanise has the opportunity to tap into. The PICA contract for example is $20M over 10 years on its own and the MyStrata product is currently used by many other strata managers both here and overseas. And I can assure you that most users are paying more than $1 per door. Added to that is the fact that the lines between strata management and FM are merging at an increasing rate. PICA for example is not just the largest strata manager in Oz but also runs a very substantial FM operation to provide services to the schemes it manages, and others. This SM/FM model is gaining popularity with other Australian companies and is also part of the business model of the world's two largest companies in this space - Associa and First Service. Trouble is, SM has a bundle more regulation around it which differs in each state of Australia, let alone across international markets. The concern that has been expressed to me is that without a deep knowledge of SM, the incoming CEO may well fall into the same traps as his predecessor........ FWIW