Quote:
Originally Posted by Tapioca
I agree with the comments above - an inspector can only tell you so much.
With respect to strata properties, you can get a sense of how well managed the complex is through the minutes and the fees. If the fees are too cheap for the age of the complex, then something has probably been neglected, or an amenity has been decommissioned (like a pool, for example). If the complex was self-managed, I would probably walk away unless you know there's a lawyer, engineer, accountant, architect, landscaper, etc. who live in the complex and are on council.
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One town house we looked at was 7 years old and only had $80K in their CRF for 54 units.
That was the first red flag.
The depreciation report was deferred to a later date.
That was the second red flag.
Reading the minutes is a good start, but I have heard of strata's not putting everything into the minutes to keep up the image of the building even though they were having issues.