When major work is needed on a strata property, strata loans offer a practical and easy solution to get the work underway. Significant works like major repairs, painting, perhaps fire ordinance requirements and large building projects can place unwanted stress on building managers and property owners. They can also be well beyond the resources of the sinking fund. Yet neglecting the work can lead often to far greater problems and is usually not an option.
Strata loans provide a timely and cost-effective way to get those projects completed. Finlease can tackle strata loans in a number of ways.
Whether your building is strata or company title, Finlease strata loans offer a solution. By allowing the cost of major works to be spread over time, the work can be carried out without the need for a special levy. It also avoids the requirement to maintain a large sinking fund which can be seen as an unproductive use of money.
Finlease is the pioneer of strata loans and has already helped a wide range of property owners. Our presence in the marketplace as a national finance broker operating in many markets can secure a more cost effective strata loans solution.
Our Finlease strata loans expert will visit your office or strata building to get your finance application underway. We actively manage the whole process, from application to approval allowing work to start sooner. Once you get your strata loan approval, you’re in a stronger position to negotiate with contractors and may even benefit from prompt payment savings. It is estimated that building costs increase by as much as 10-15% a year, acting promptly can save you money.
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