COVID-19 Health Crisis
5 point Action Checklist for Strata
April 8, 2020
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Strata Checklist for Committee Members Some sectors of the economy will be more affected than others but the flow on effects from business interruption, loss of employment and mortgage pressures will undoubtedly impact on Strata Plans. As a Committee member, your leadership and decision-making during this period of economic instability will be crucial to ensuring your strata plan is well-positioned to properly function in the event of a Cash Crunch. Below is a checklist for the essential actions you should undertake for your strata plan:
- Develop a cash flow plan with your strata manager – Review your cashflow position
- Navigate your arrears position
- Consider key risk areas
- Finance for your strata plan
- Negotiate with 3rd parties
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