Good morning Investors
We hope that you all enjoyed your holidays this last month
We have been involved with the launch of a fantastic new development called the Colosseum. It has been a bit of an uphill journey.
For those of you who have not invested in the building here is some background. The developer wants to keep standards of the building high and has implemented restrictions that do not permit just any letting agent into the building to rent out the apartments. We had to meet with the developer and issue company docs for approval.
This is a great idea and we are quite surprised that this is the first time that we see a system like this being implemented into a CBD block. There are plenty of sub-standard agents out there and we are sure that most of you have had the unfortunate experience of dealing with them.
This type of entrepreneurial thinking is what we need to really see our investments grow.
All our other buildings are doing well with nothing to report.
The only bad news that we have this month is that there was a fight at the Broadway Building, Friday night 30 April, the security did sort out the problem and there is a meeting with the body corporate, Security Company and the managing agent.
This sort of behavior can be avoided by implementing the right house rules. However we think that the Body Corporate of buildings in CBD should start enforcing that only approved managing agents are allowed to operate in their buildings.
Let’s hope that May is a trouble free month,
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