This week, Michelle delves in to the world of strata. If you’re looking for a property that is strata title, what should you be looking for in the strata notes?
HERE’S WHAT YOU’LL LEARN FROM TODAY’S EPISODE:
Why it’s important to get a copy of the strata notes;
Where to start, and why looking at the funding position is key;
Sinking funds/Capital Works funds, and why they’re important;
Strata manager rule of thumb guidelines to start with;
Special levies, what have been charged to date and for what purpose;
Sinking fund forecasts, why they’re a good thing to look for;
The executive committee, the history of the AGM’s;
Is the committee meeting its annual requirements (eg. fire safety compliance);
Where things can go wrong with a new building;
History of the builder;
Websites to take a look at; And
Understanding your potential share should you raise concerns in due course.
LINKS OR ARTICLES WE MENTIONED:
Your Strata Property
Strata Man
SPEAKERS IN TODAY’S EPISODE
Michelle May - Sydney Buyers Agent
Marcus Roberts - Mortgage Broker
ASK US ANYTHING!
Have a money question you want us to answer? ask@sydneypropertyinsider.com.au
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