This article discussing how strata finance can be used to increase your building’s value has been provided by Debbie Barker, StrataLoans.
The use of strata finance can assist strata properties to increase the value of their assets with upgrades to common areas and improvements to the building and surrounds. From a new coat of paint to modern transformations of common property and facilities, make-overs can smarten up a building and add value to any property. Strata finance is beneficial to all sized strata properties and projects on all scales.
Riverview Apartments, Coffs Harbour
Jetty Strata Management recently utilised strata finance on their Riverview project. The small apartment building of 10 lots at Mildura Street, Coffs Harbour was treated to a fresh render job and coat of paint to rejuvenate the exterior of the buildings in small stages. Contractors NAC Painting, Render Texture Paint and Novocastrian Scaffolding Coffs Harbour completed stage one which transformed the old, dated building into a modern, clean and fresh looking complex. The owners corporation were very pleased with the result and are preparing the finance for stage two works.
Carr Street, Coogee Beach
A project that excited the residents of 58-60 Carr Street, overlooking the exclusive Coogee Beach shook things up and got the suburb talking. The refurbishment project carried out by the team at Max Build included a full transformation of the building exterior including the extending of balconies to each of the units and improvements to the common areas. With the use of funding through strata finance to complete the project, the value of the property has increased by 20% since completion according to building owner, Danny Dekker.
Beach Haven Apartments, Gold Coast
The strata committee of Beach Haven Apartments in Broadbeach on the Gold Coast recently took advantage of strata financing. With a large scale project including common area improvements and the replacement of their body corporate windows, doors and balustrades across 32 floors.
The installation of the glass doors, windows and balustrades throughout the 147 units has been carried out by local company, Windowline, Quality Handrails and JPSM Project Management, who are experienced in working with body corporate and strata management teams to provide innovative solutions for mid to high- rise apartment buildings across Australia and have partnered with a number of strata committees utilising the services of strata financing. “This project gave this 35 year old building a modern and up to date look externally to suit the ever changing Gold Coast skyline”, says Beach Haven committee treasurer, Phil David.
No matter the size of the building or scale of the project, strata finance can provide financing to fund works of all dimensions. Companies like StrataLoans can assist strata properties with an unsecured loan, with no mortgage or personal guarantee required. Repayments are incorporated into owners quarterly levies providing the best strata finance solution in the market.
Making improvements, completing repairs, installing energy saving solutions, upgrading or building new facilities, using strata finance may the quickest, most efficient and cost-effective way to have works completed now. Take the opportunity to discuss your strata loan options and how you can benefit from this funding solution.
Have a question about how strata finance can be used to increase your building’s value or something to add to the article? Leave a comment below.
- WA Cladding Audit: Strata Finance May Assist Your Building’s Obligations
- QLD: How To Raise The Value Of Your Strata Investment
- WA: Q&A Making Improvements to the Building in Strata