Building Repairs Cost $1.5 Million - Owners Forced to Take Out Loans or Pay 25k Each! #airbnb

Summary

The host discusses unexpected expenses that can arise when owning a property in a strata complex. He highlights how a building he knows required significant repairs costing $1.5 million, leading owners to pay $25,000 each or take out loans. He stresses the importance of considering potential building issues even if the property appears to be in good condition and its rental income is modest.