Most construction finance facilities contain conditions regarding pre-sales. That is, the number of “off the plan” sales contracts that need to be achieved before the first, or another, drawdown can be made. The banks are fairly sophisticated about … [Continue reading] about Strata Tip 65: Development financing – Pre-sales coverage
News & Publications
Strata Tip 64: Management Rights – Superman doesn’t work for peanuts…
If you pay peanuts, not only will you get monkeys, odds are that things will end up going a little bit ‘Jumanji’. As a general rule, every dollar that you underpay a caretaker, below a fair rate, is $2 that you’ll end up spending on a dispute or … [Continue reading] about Strata Tip 64: Management Rights – Superman doesn’t work for peanuts…
Strata Tip 64: Buying – Most due diligence issues are fixable
Aside from a business that’s not making enough money, most issues that arise during due diligence are fixable. It might take goodwill and perseverance, but even void management rights agreements can be fixed (which can happen if the seller forgot to … [Continue reading] about Strata Tip 64: Buying – Most due diligence issues are fixable
Stata Tip 64: Development approval – Pre-lodgement meeting
Most local authorities offer a pre-lodgement meeting, at which your intentions can be discussed and Council’s concerns can be raised in an open, robust and helpful way. If you have the opportunity for a pre-lodgement meeting, then 99% of the time … [Continue reading] about Stata Tip 64: Development approval – Pre-lodgement meeting
Strata Tip 63 – Records – Records held other than by the body corporate manager
Email is a curse! Emails between committee members, that never reach the body corporate manager, have been held by Adjudicators to be body corporate records. Ignorance of their creation is no excuse for the body corporate failing to capture them, … [Continue reading] about Strata Tip 63 – Records – Records held other than by the body corporate manager
