396. Hybrid strata loans have become even more flexible
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Andrew Boss of Austrata Finance joins me to unpack the new and improved “hybrid” strata loan, including greater certainty for owners at tax time, and easier administration for strata managers.
Thanks Andrew, and Amanda,
Andrew mentioned early in the podcast that owners will receive (in QLD) an Admin Fund Levy, a Sinking Fund Levy and a Loan levy. Does this mean that under an Australia Loan there will be THREE funds – an Admin Fund, a Sinking Fund AND a Loan Fund?
Hi Sean, yes I heard that too. I don’t think it’s three funds though, just a separate debit on the lot account for the loan repayment (and, if the owner is self-funding, an associated credit to cancel it out). Feel free to reach out to Andrew directly for more detail.
– Amanda.
Thanks Amanda for the information!
Great way of creating Affordable Housing. Make sure that the building is unliveable so the Strata Scheme needs to pay: Strata Lawyers, Accountants, Interest to Banks, Financial Controller….
If governments want to provide affordable housing for people would not make more sense to build and renovate the dwellings properly by qualified people?
Thanks again for the information.