Strata Life

Welcome to Strata Life by Rochelle Castro The place where you should go to learn and get inspired on all matters strata

In this episode I will cover... 5 collection methods so that your strata community’s cashflow is healthy

1. Send a letter of demand 7 or 14 days after the levies are due (do not wait for a final notice to be sent. You could also send another letter after the final notice is issued).

2. Charge penalty interest (punishment to those who pay on time, reward to those who pay on time).

3. Arrange a reasonable payment plan (reasonable is the keyword, so that the debt eventually catches up to their debt).

4. Inform your strata community in AGMs of consequences to their finances if members do not pay on time.

5. Pass a resolution that authorizes the strata community to automatically issue legal proceedings if a member fails to pay on time or enter into a payment plan.

CONCLUSION Strata enthusiasts, I hope that this episode has given you the bird’s eye view on how to …

5 collection methods so that your strata community’s cashflow is healthy Strata enthusiasts, I will speak to you in our next episode. Life is the C between the B and the D. Life is about choices, making choices. Remember, continue upgrading yourself! This is Rochelle Castro speak to you soon on the Strata Life podcast!

5 steps on how the owners corporation committee could make legal decisions-

1. Identify the items that should be decided #explain

2. Create a meeting agenda and notice #explain (include 3 days prior meeting notice)

3. Hold the meeting. (Check attendance and eligibility to vote, give brief opportunity for each member to express their views, then vote, then close the meeting)

4. Write the minutes of meeting . (only record decision NOT comments)

5. Keep minutes in custody of secretary or strata manager, then give directions to relevant parties to action decision

CONCLUSION Strata enthusiasts, I hope that this episode has given you the bird’s eye view on how to … 5 steps on how the owners corporation committee could make legal decisions- Strata enthusiasts, I will speak to you in our next episode.

Remember, continue upgrading yourself! This is Rochelle Castro I will speak to you next time in Strata Life podcast!

#stratalife #rochellecastro #rccolawyers #podcast #stratamanagers #stratamanagement #australia

Welcome to Strata Life by Rochelle Castro. The place where you should go to learn and get inspired on all matters strata.