Social media reviews put the bite on holiday strata rentals

Paul MortonUncategorized

For many strata holiday property owners it’s a matter of out of sight out of mind. The income from the unit keeps ticking over nicely, surging at peak holiday times such as Easter. But increasingly, ageing strata short term lettings are under threat as social media sites such as Trip Advisor expose underwhelming guest experiences while promoting shiny, attractive alternatives. Holiday strata owners need to be aware that guest reviews have potential to impact on future yields. Even buildings that … Read More

A big elephant in the housing affordability room

Paul MortonUncategorized

paper and desk

The elephant in the room as far as housing affordability is concerned is NOT negative gearing, interest only loans, stamp duty or foreign investors. It’s the effect of decades of regulation of capital and liquidity which means that banks favour mortgages over every other asset class. This has skewed the lending mix of banks from corporate, business, SME and personal lending to mortgages, with cheap money playing a significant part in pushing up house prices by increasing the demand side … Read More

Capital works funds and options for owners

Paul MortonUncategorized

The new NSW strata legislation requires owners to ‘actively consider’ how they want their future maintenance and capital works to be funded. The new legislation does not require owners to fund capital works budgets solely by regular levies to the capital works fund. Owners still have the right to choose to fund capital works by regular levies, one-off levies, a strata loan, or any mix of these. Owners and strata managers should take into account the specific attributes of the … Read More

New NSW strata legislation, opportunity and options

Paul MortonUncategorized

New strata laws that come into force today will make it easier for apartment owners to update or redevelop ageing unit blocks. Previously, a strata scheme can only be terminated if 100 per cent of owners agree, but from today, a vote of 75 per cent will allow the collective owners to either sell the property or redevelop it themselves. Lannock Strata Finance CEO Paul Morton, whose company is a leader in strata loans, says the reforms represent a golden … Read More