Help for strata levies in arrears

ladminUncategorized

The strata sector is not immune to the virus. We will experience significant disruption over the coming months and owners are very fearful. We have written a guide to help strata owners and managers deal with the important cash flow decisions that will arise during the pandemic and its aftermath. Our downloadable guide covers what to do about the payments the corporation needs to make and the various ways of funding those payments should there be a shortfall. The strata … Read More

Introducing our Levy Assist Loan

ladminUncategorized

During this upcoming period of uncertainty, we anticipate many owners will experience difficulty in getting personal finance or increasing their mortgage. And everyone is worried that levy arrears will increase. That is why we have created an easy and simple “levy assist” working capital loan to cater for owner corporations experiencing increased arrears. To learn more about this product, and answer any questions you may have, we’ve compiled the following FAQs. You can also call us on 1300 851 585 or … Read More

Top 10 tips when preparing for general meetings

ladminUncategorized

Lannock’s Head of Business Development Phil Bottomley provides some ideas on how we can prepare for general meetings. Set a time limit and focus on the major items, defer minor or operational matters to another meeting Set a goal for how long it will take to process the strata roll – what do you need to do to achieve this? Prepare a template for presentations that forces contractors into a sensible structure and can be easily read by all people in the … Read More

Four Principles of Corporate Finance that apply to Strata

ladminUncategorized

… and how every owners corporation and strata manager in Australia can benefit from understanding the implications of each! Opportunity Cost Remember the old Aspirin ads? “Two and a quarter times faster”. Well, 2 ¼ faster than what? It’s the same with money in general and funding in strata in particular. The money that owners pay in levies is not free – the cost of this money is whatever the next best thing you could do with it might be. … Read More

Combustible Cladding: What Next?

Paul MortonUncategorized

Neo200 Building Images

There are five things that will cause owners to take action if there is combustible cladding on their building: concern for personal safety; compulsion by government; unwillingness to pay higher insurance premiums; declining property values; and inability to sell affected units. Each of these on their own should be sufficient to ensure immediate action from owners, but it’s a sad fact that safety concerns alone will not lead to significant change. The various state governments are working through their processes, … Read More

How a Project Manager Can Save You Money

Paul MortonUncategorized

Paul Morton, founder and CEO of Lannock Strata Finance, recently contributed to the May 2019 issue of Resort News Magazine on ‘How a Project Manager Can Save you Money‘. You can view the full article at Resort News or read the article text below. Completing the construction of a property is not the end of that building’s journey but only the beginning.  Buildings have a defined life span and with the necessity for maintenance and the plethora of opportunities for enhancements, a building should … Read More

Strata managers across Australia share their experiences with flammable cladding

ladminUncategorized

cladding

The results are in from our recent survey we sent to strata managers on flammable cladding in Australia. A big thank you to those that took the time to share their thoughts. Almost half of New South Wales & Queensland strata managers who responded said that almost all their clients had met their cladding registration requirements.  While great to see, there’s still work to be done as one third of respondents said that less than 50% of their properties had registered! Extrapolating from … Read More