Dodgy developers and majority of owners forcing the rest to sell. Here’s how that process works.
Summary
The video discusses a scenario where the majority of apartment owners in a building agreed to take on debt to finance renovations, which led to a significant increase in the value of the apartments. Owners who couldn't afford the extra debt were forced to sell their properties. This was made possible by the 'strata renewal rule' which requires only 75% or more owners to agree.
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