A question. You invest $350,000 in shares. You find out that the company you have bought shares in is being mismanaged and your shares will be worth nothing in 2 years. Basically, you will lose your money. Would you sit back and simply let this happen without being concerned or taking action?
What is the difference then, between buying a body corporate investment and letting the building remain stagnant, get to a point of disrepair, and become so devalued that you owe more on the mortgage than what your body corporate investment is worth? Are you willing to take the risk of having a massive repair bill or selling your investment at a massive loss? If making money on your investment matters to you, this is not a situation you would stand for. Unfortunately, more than 70% of body corporate investors do just this. They sit back and take a huge loss on their body corporate investment.
Interest rates may be low, however banks are getting tougher. Should your body corporate investment be revalued at less than the original purchase price, you will be left with two choices. Sell your investment and make a loss, or have the bank repossess your property and risk facing bankruptcy.
What if you could prevent this mess? What if you could protect your Body Corporate Investment for as little as 2 hours a month? You can. It is completely possible. How? By being proactive and participating in your body corporate committee to ensure you have your say in protecting your body corporate investment.
HOW YOU CAN PROTECT YOUR BODY CORPORATE INVESTMENT
With an organisation such as Tower Body Corporate, you can be located ANYWHERE in the world and be and still be an active member of your body corporate committee.
- You do NOT have to be physically in the room to participate in a body corporate meeting. Attending via a video link is entirely acceptable. This is a perfect solution for an investor who lives out of state.
- A body corporate committee member does NOT have to live in the building. Again, this is perfect for a body corporate investor who wants to protect their asset.
- If you cannot attend a committee meeting in person or via videolink, you can still have your say by voting papers or proxy.
Many small buildings simply have one AGM a year, negating the need for regular attendance. Therefore you may require very little time committment.
DO YOU CARE ABOUT YOUR BODY CORPORATE INVESTMENT
Why would you leave such a large investment in the hands of people who may not have the same technology, knowledge and financial sense as yourself?
There is little time to lament when suddenly your body corporate receives a $4 million repair bill (read about one such case) because no-one has taken responsibility for the ongoing preventative upkeep of your building.
If retaining the value of your body corporate investment matters to you, contact your body corporate manager, or the team at Tower Body Corporate Administration, to find out how you can become a proactive body corporate investor and participate in your body corporate committee.