› Forums › Finance, budgeting and loans › Does Chanthivong champion plutocracy? › Current Page
So here’s a scenario that could happen if the non-financial owners were allowed to vote.
in the building next to mine, a wealthy couple bought up more than half the units over a period of time and gained control of the strata. They then set about renovating common areas with imported Italian tiles, sculptures, fancy light fittings and so on. The other owners all had to finance their share of this with no hope of voting down the extravagance (which only one couple wanted).
Now let’s say the wealthy couple was not paying levies. In your preferred scenario, they could still vote for all this spending without contributing a cent and the other owners would be funding it all.
I accept that’s an unusual situation where one owner controls the strata, but in many buildings you get voting blocks and cartels that work together to control strata. Should they be able to do that and vote for expensive upgrades while not contributing?
