Inside Apartment Investments
Speakers from Administrate (2009) Ltd - Body Corporate Managers, ANZ Bank, Crombie Lockwood and Quinovic addressed the meeting.
Apartment living is becoming increasing popular as people migrate closer to the city to take advantage of being close to work and entertainment. There are currently a number of middle to high end apartments coming available to the market like El Casino, Nouvo, Elevate, 1 Market Lane & the Clyde Quay (Overseas Terminal) in Wellington City so what is investing in apartments like?
Body Corporate apartments now generally have professional management as a result of compliance knowledge of the 2010 UTA – the act and accompanying regulations are very prescriptive to the running of Bodies Corporate. Insurance of the apartment building, financing apartment investments and managing apartment were discussed during the evening.