Tips for Better Strata Buying

Here's a great article from South Africa about a Checklist for Buying Sectional Title (thier version of strata title) from the Property24 website.


The article quotes Catherine Cockcroft, sales manager of levy funding company Propell about the things they consider when funding a sectional title building and suggests they are the same things buyers should look at (but don't).  And, it concludes that the quality of management makes all the difference: covering budgeting accuracy, governance, and levy arrears.


The message is simple and applies to strata corporations all over the world.


After all, if strata corporations don't budget enough money to cover everything that needs doing, the people running strata corporations make poor decisions and owners don't pay the money they're required, then it's inevitable that problems will emerge, grow and start to cripple strata corporations, managers and owners.


So, why doesn't this happen all the time?  And, why isn't it easier to see how strata corporations rate on these criteria?


The sooner some benchmarks are determined (based on empiric research), published and performance measured against them, the sooner owners will want and get better outcomes.  




Francesco ...