“People want to buy into a good group of neighbours who can work together to resolve problems. An Owner’s Association is a positive sales point.”
Jaqueline Shaw, Local Estate Agent
Five things you should know about a maintenance account
- All owners contribute.
- Are set up to help owners make regular payments towards repairs.
- Need to be interest bearing accounts
- Need at least two signatures to withdraw cash.
- Any contribution from an owner who sells should ideally be left in the maintenance account and the house price adjusted accordingly.