The strata title
has a number of benefits and this is why some of the old buildings are opting
for conversion to strata title. The
basic objectives that are sorted through strata title includes individual
repairing and maintenance decision taking ability and what kind of decision can
be taken in case of any issues arising all of a sudden. These kinds of prowess
has given strata title the much required fame.
The advantages of converting to strata title
In the strata
title the owner can easily mortgage their properties for any kind of financial
transaction without any issues. This is not the case with company title and
financial institutions may take a second thought before giving any sort of
loans to in respect to property holding company title. In company title the
owner holds a portion of shares and not a complete structure. Even if the
financial institution approves mortgage, the percentage is going to be small as
compared to any mortgage of a property under the strata title.
When conversion
to strata title takes place of any establishment, the market value of the
building also rises as there are more facilities in this sort of arrangement.
This is also because the buildings under strata title has even distribution of
property and the common spaces are accessible to everybody.
After successful
transition of the title from company to strata, there is no need to understand
the intricate language of different kinds of documents that are presented by
the board at certain time. On the contrary, strata title gives the power to the
owner and the owner can action for himself if required without taking the
approval from the board members.
These were some
of the advantages of conversion tostrata title and depending on your requirement, you should be taking help
from advisors.
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