Urgent necessary maintenance items and minimal funds?
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We have emergency or other common property repairs, we do not have the funds and the costs required see that this would take a long time to raise these funds which are necessary what can we do?
<h5 class="font_5">Strata Lending</h5>
Sometimes your scheme requires urgent necessary maintenance and the strata company finds itself struggling to raise the funds in a hurry.
There are now a few lenders providing Loans to Strata Companies
- Click Link Strata Loans
- Click Link Macquarie Relationship Banking
Why Strata Loans see link to Strata Loan or Strata Loan Video noting benefits as follows;
Peace of mind
- The loans are unsecured and offered directly to owner’s corporations and bodies corporate
- By taking out a loan your community is reducing the immediate cost burden for works
- Funds can be accessed quickly once approved and projects can be carried out with minimal delay
- Cash flow is freed up, taking the burden off inadequate sinking funds and preventing the need for undesirable special levies
- Loans can be used in a myriad of ways, including improvements to your community, renovation works, paying insurance premiums, litigation costs and other capital requirements
- Strata Loans save time, expense and provide complete certainty of funding
- Strata Loans allows repairs and maintenance to be completed now, bringing strata owners the benefits of a better lifestyle sooner
- Strata Loans is a simple funding solution for strata owners, offering greater flexibility and peace of mind that capital values and building standards are being improved
- Instead of doing small jobs as money becomes available, by taking out a Strata Loan multiple repairs, maintenance or refurbishments can be bundled into one project, saving time and money whilst minimising disruption to owners
No large financial burdens
- Loan repayments are incorporated into quarterly levies/fees.
- There is no mortgage or personal guarantee required to secure the loan
- There are no fees for early repayment (except during a fixed rate period) so the loan can be paid out at any time
Increase the value of your asset
- You are maintaining and improving the value of your asset
- As an investor, rental and tenancy stability are enhanced
- The building is improved, increasing its resale and rental values