RSL buying into building

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  • 16/07/2016 at 9:04 am #10538 Reply | Quote
    Unit5BW

      I live in a strata unit of 27. About 9 years ago we were approached to sell to an unknown developer with the option of cash or back into completed apartment 4 levels down. It was unanimously rejected. 

      Over the last 4 years we discovered the developers were our local RSL. They have bought all the houses around our building and even the side street allowing us access to our car park. 

      Slowing the RSL is forcing our hand so with the new 75% rule coming in we are concern. The RSL is on the EC and has the majority of votes rejecting all necessary maintenance requests. 

      The RSL owns 7, an unknown company owns 7 that may be related to the RSL. We have limited owners who cares or turns up at AGMs. 

      My question is, do I just start looking to buy elsewhere as eventually I will be force to sell? I’m happy where I am and have no interest in moving or getting interesting more debt but I want peace. I know the RSL will build and it will be noisy and crowed and access to our own building will be difficult and there’s so much uncertainty. 

      Do I sit and wait?

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    Reply To: Reply #25120 in RSL buying into building
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