A strata search should show if there have been problems with the building and whether these problems have been handled through body corporate meetings with the strata manager or simply buried.

The cost of the repairs should be part of the body corporate responsibility especially if this is a supporting wall however you will still be responsible for painting/wall paper/floor coverings.

You mentioned that the rental comes from the pool – what is the occupancy rate of the hotel at present, how does the rental guarantee impact on the rental pool (ie are all of the other owners subisdising the rental guarantee)? What returns are being experienced by the other owners? Most importantly, as pointed out above, what are your expenses ie are you paying a management fee, advertising, traditional outgoings etc? and What is your income – pooled income means that if you own 1% of the units you may  be liable for 1% of the outgoings + booking fees/management costs/advertising/building compliance/insurance etc.

BCA compliance costs would include items like fire doors & jambs to each unit, installation of linked smoke detector system (possibly thermals & or sprinklers with ongoing compliance costs), exit and emergency lighting, fire hose reels, hydrant/hydrant booster etc, fire rating of ceilings & all penetrations, noise separation and the list goes on, possible to spend $30-50k per unit minimum.

You might have to engage a building surveyor to determine what the scope would be, a qs to get a price guide and a raft of other consultants to design any required systems and to get the certification.

This is classed as borrowing for a private purpose and interest will not be deductible.

Are you looking to change or to appoint a new SM?

If I told you Jenny, I'd have to kill you (and change the eyes, of course).

On that basis, then you may have more luck with locking them in to a 5 – 7 year timeframe. Monitoring resale will be difficult without having an enforceable caveat on the land.

Please see previous posts: https://www.propertyinvesting.com/forums/property-investing/help-needed/4326345?highlight=car%2Cparks

Quick questions:

Which state is the house located? In some states you have an insurable interest eg Qld and are required to insure the property to cover any damage between exchange and settlement.

Is the house Torrens Title or leasehold (eg crown lease)?

Measurement of land – I have never heard of this. The title of land is guaranteed by the State Government, we have a very secure system of land identification and tenure (compared to may other countries). The certificate of title identifies the property as Lot YY in Deposited Plan XX1234 or Volume XX Folio YY Deposited Plan UU, likewise strata title is referred to Lot PP in Strata Plan TT.

Either your conveyancer is very green or I am (about property in your state).

If they can lock you up for 20 years (by this stage your house would have depreciated by 50% but the land value may have increased), they have already recieved mega profit on the original build & site works (even at $140k), they are going for a third bite at the cherry.

Your only hope is that the company is wound up before the 20 years are out.