Webinar: Borrowing Funds for a Major Strata Project | Loans for BC Strata Corporations скачать в хорошем качестве

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

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. Visit our resource centre to learn more: https://visoa.bc.ca/resources/ 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 VISOA is a registered non-profit society. VISOA provides education, support, and advocacy for BC strata owners and strata corporations. If you are not already a member, please consider providing your support by becoming a member. Learn more at https://visoa.bc.ca/