Webinar: Borrowing Funds for a Major Strata Project | Loans for BC Strata Corporations

Описание: Nearly every strata corporation in BC (condo, townhouse, bare land, commercial) is underfunded. How will your strata corporation pay for a new roof, windows, elevators, building envelope remediation or other projects? In this webinar, Kelly McFadyen from CWB Maxium Financial explains options for funding a major project and commercial loans for strata corporations.

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00:00 introduction
01:51 Common property elements: common strata projects.
02:46 How to fund a major project. Options for funding: CRF, special levy, hybrid, loan.
04:33 End of life. What is a Depreciation report? Financial planning.
06:20 Owner responsibility as a "shareholder" of a multi-million dollar "business".
07:33 Commercial loans for strata corporations.
08:10 Unsecured commercial loan: no mortgage on common property or individual units.
09:41 What does this mean for the owners? How owners pay off the loan.
10:23 The structure of a loan, terms, amortization, and interest.
14:44 Understanding relationships between the owners, strata corporation, lender and contractors.
16:37 When to consider financing. Types of loans: top up financing and bridge financing.
21:00 The strata corporation's duty to repair and maintain common property.
22:38 Efficiency strategies: beat inflation, group projects, and single phase projects.
29:13 Closing

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