Funding Common Property Expenditure in Multi-Owned Housing Schemes

Kaylene Arkcoll, Chris Guilding, Dawne Lamminamki, Lisa Mcmanus, Jan Warnken

    Research output: Contribution to journalArticleResearchpeer-review

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    Abstract

    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.

    Original languageEnglish
    Pages (from-to)282-296
    Number of pages15
    JournalProperty Management
    Volume31
    Issue number4
    DOIs
    Publication statusPublished - 2013

    Fingerprint

    Expenditure
    Common property
    Funding
    Capital expenditures
    Financing
    Owners
    Conceptual framework
    Politicians
    Government policy
    Fund raising
    Design methodology
    Drafting
    Jurisdiction
    Legislation
    Financial distress
    Subjectivity

    Cite this

    Arkcoll, K., Guilding, C., Lamminamki, D., Mcmanus, L., & Warnken, J. (2013). Funding Common Property Expenditure in Multi-Owned Housing Schemes. Property Management, 31(4), 282-296. https://doi.org/10.1108/PM-09-2012-0031
    Arkcoll, Kaylene ; Guilding, Chris ; Lamminamki, Dawne ; Mcmanus, Lisa ; Warnken, Jan. / Funding Common Property Expenditure in Multi-Owned Housing Schemes. In: Property Management. 2013 ; Vol. 31, No. 4. pp. 282-296.
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    abstract = "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.",
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    Arkcoll, K, Guilding, C, Lamminamki, D, Mcmanus, L & Warnken, J 2013, 'Funding Common Property Expenditure in Multi-Owned Housing Schemes', Property Management, vol. 31, no. 4, pp. 282-296. https://doi.org/10.1108/PM-09-2012-0031

    Funding Common Property Expenditure in Multi-Owned Housing Schemes. / Arkcoll, Kaylene; Guilding, Chris; Lamminamki, Dawne; Mcmanus, Lisa; Warnken, Jan.

    In: Property Management, Vol. 31, No. 4, 2013, p. 282-296.

    Research output: Contribution to journalArticleResearchpeer-review

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    Arkcoll K, Guilding C, Lamminamki D, Mcmanus L, Warnken J. Funding Common Property Expenditure in Multi-Owned Housing Schemes. Property Management. 2013;31(4):282-296. https://doi.org/10.1108/PM-09-2012-0031