Thank you! I have been considering buying a place cause finding rentals is tough these days. This was a good video that was very easy to understand and informative
Important information at this time of high skilled labour and renovating cost coupled with soaring insurance premium rates for stratas. Due diligence is so important today.
Good question. The contingency fund is used for emergencies and unexpected expenses (ie. Insurance deductibles, unforeseen repairs etc.). I should say that it is definitely used for capital expenditures as well, but big ticket items are generally paid for by both special levy as well as some funds from the CRF, provided there is a healthy amount in the fund to begin with. Hope this helps.
Seriously. AVOID buying stray property. Not worth the POLITICS. How can you consider yourself a homeowner if a group of Karen's and idiots call themself strata council and dictate what you can and can not do to your home. BEST ADVICE is to buy a detached residential home where you are the boss and you can do as you please without worry about a serious leaking co do or water damage or re roofing time ,watch out strata will demand you come up with 20 000 or more when serious repairs needed ,also these repairs will not even be on your unit , you will be responsible for the whole 100 suites in building. It's nonsense politics. Finally we are free of strata politics , I took a loss to just be free.
Thank you, Hasan, for a very informative video. We learn so much from this.
I’m so glad, my pleasure!
Thank you! I have been considering buying a place cause finding rentals is tough these days. This was a good video that was very easy to understand and informative
Thanks so much for watching and if you have any questions, let me know!
Thank you big help for me reviewing our strata docs
Thanks for watching
Important information at this time of high skilled labour and renovating cost coupled with soaring insurance premium rates for stratas. Due diligence is so important today.
This is a great video. You made an amazing short video! Good luck with your future.
Thank you, Sarath!
very good video . please make more video like this
Thank you for watching, will do!
awesome video man
Thank you David, much appreciated!
extremely helpful video! thank you so much
Glad you found it helpful and thanks for watching!
This was VERY helpful, thank you so much!
My pleasure, thanks for watching!
Good job Hassan
Thank you!
Hi Hasan, so when is the contingency reserve fund used if it’s not used for capital expenditures?
Good question. The contingency fund is used for emergencies and unexpected expenses (ie. Insurance deductibles, unforeseen repairs etc.). I should say that it is definitely used for capital expenditures as well, but big ticket items are generally paid for by both special levy as well as some funds from the CRF, provided there is a healthy amount in the fund to begin with. Hope this helps.
@@vancouver.realestate thanks for clarifying
Thanks so much
You’re very welcome!
good video
Thanks for watching, Carmen!
Seriously. AVOID buying stray property. Not worth the POLITICS. How can you consider yourself a homeowner if a group of Karen's and idiots call themself strata council and dictate what you can and can not do to your home. BEST ADVICE is to buy a detached residential home where you are the boss and you can do as you please without worry about a serious leaking co do or water damage or re roofing time ,watch out strata will demand you come up with 20 000 or more when serious repairs needed ,also these repairs will not even be on your unit , you will be responsible for the whole 100 suites in building. It's nonsense politics. Finally we are free of strata politics , I took a loss to just be free.
I hear you, but detached homes are well out of reach for many people. The next best option is to make an informed purchase into a well-run strata.