Ep.18 Michelle’s guide to reading a strata report
This week, Michelle delves into 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:
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
ENJOY THE SHOW?
Don’t miss an episode, subscribe via iTunes. If you like it, please leave a review!
Or, find us on the podcast app of your choice, such as Spotify
Please note that any views or opinions presented in this podcast are solely those of the speakers, and do not necessarily represent those of any business. These views and opinions are general in nature, and do not take account of your personal objectives, financial situation and needs. Please consider whether it applies in your circumstances and seek professional advice wherever appropriate.