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Funding common property expenditure in multi-owned housing schemes

journal contribution
posted on 2023-05-20, 02:35 authored by Arkcoll, K, Guilding, C, Lamminamki, D, McManus, LA, Warnken, J

Purpose: The purpose of this paper is to advance a set of criteria for appraising the merits of alternative options to financing common property capital expenditure in multi‐owned housing (MOH) complexes and to then draw on this conceptual framework to determine which mode of common property capital expenditure funding is preferable.

Design/methodology/approach: A priori reasoning has been provided to pursue the study's objective.

Findings: Sinking funds represent the preferred approach to financing common property expenditure in MOH schemes and special levies are the least preferred approach.

Research limitations/implications: Due to the a priori based conceptual development undertaken, some subjectivity is bound to be invoked.

Practical implications: The study provides key insights to government policy makers charged with drafting MOH legislation and provides strong support for those jurisdictions that require sinking funds to be raised in MOH complexes. The study also informs the owners executive committees of MOH schemes of the benefits of maintaining sinking funds.

Social Implications: The study highlights the considerable MOH unit owner financial distress that can be averted by pursuing a policy of raising sinking funds.

Originality/value: The study has immense originality, as it is the first academic study to focus on MOH common property capital expenditure issues.

History

Publication title

Property Management

Volume

31

Issue

4

Pagination

282-296

ISSN

0263-7472

Department/School

TSBE

Publisher

Emerald Publishing Limited

Place of publication

United Kingdom

Rights statement

Copyright 2013 Emerald Group Publishing Limited

Repository Status

  • Restricted

Socio-economic Objectives

Property, business support services and trade not elsewhere classified

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