Topic: 3 votes in a complex of 10 – a red flag? – FLAT CHAT

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15/01/2024 at 6:44 pm #72210 Reply | Quote
AI
Flatchatter
Hello,

My husband and I are first home buyers and we are interested in buying a unit (to live in) in NSW. Upon reading the strata report we realised that one person has 3 properties in the complex of 10. According to Domain 35% of the properties in the building is an investment. This person is one of two committee members. At the last 4 AGMs, 3to 5 people attended.

Is this something we should be very concerned about? The idea that one person that we haven’t even met, seemingly has a lot of power over the building we may own in, makes us feel uneasy. But we are completely new to this and wanted to see what other, more experienced people thought of this.

Thank you for your input 🙂
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02/02/2024 at 10:52 pm #72570 Reply
AI
Flatchatter
Chat-starter
Thank you kaindub,

We are now looking at another property – I will call the strata manager and request to see the email records. Thank you for your advice 🙂

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Reply To: 3 votes in a complex of 10 – a red flag?

PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.