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From: Michael Franks
Has anyone got any experience on investing in residential property which is covered by a strata title with respect to renting. I am considering purchasing such a property but I am cautious because of strata fees - the property in question has recently had a two year increase in strata fees to cover some major work. I understand from the agent that the normal strata fees have no slush fund for these sorts of problems. Does the strata body corporate have special powers - how does democracy work under such circumstances.
I would appreciate any assistance.
Regards Michael Franks
Has anyone got any experience on investing in residential property which is covered by a strata title with respect to renting. I am considering purchasing such a property but I am cautious because of strata fees - the property in question has recently had a two year increase in strata fees to cover some major work. I understand from the agent that the normal strata fees have no slush fund for these sorts of problems. Does the strata body corporate have special powers - how does democracy work under such circumstances.
I would appreciate any assistance.
Regards Michael Franks
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