Setting Up Your Own Residents Association – Step-By-Step Guide for Property Investors ⎜ Ep. 1394

In this episode, we dive into the murky waters of setting up a resident's association. You're in for a treat – it's a step-by-step guide! A listener of the show, Michael is in a bit of a pickle. He settled on a townhouse in Dec '22. But here's the twist, the developer went under, and now there's no resident's association. So, Michael is scratching his head, wondering – do I need one? And if I do, how on earth do I set it up? In this episode, we clear the air about resident's associations – what they are, why they're important, and yes, the nitty-gritty on how to set one up. You'll learn about the three main functions of a resident's association. You'll also learn the five steps you need to set up a resident's association: Main topics discussed: Setting up a resident's association Role of insurance in resident's associations Shared property maintenance Rules within resident's associations