In a previous article we wrote, titled Strata Fees, Strata Levies, Management Fees. What’s the difference?, we explained that the amount you pay in strata levies are typically dependent on three factors: the location and quality of your building and the facilities offered.
Levies can be kept artificially low in a number of ways. For example, one can decide to cancel or delay maintenance work. We warned that not properly maintaining your building will devalue your investment and will almost certainly increase the costs of maintaining it over the long-term.
But don’t take our word for it. This FlatChat column highlights similar risks of not properly maintaining a strata titled building.
I particularly liked the closing comment, which warns that your building’s deterioration should also be considered in light of its relative deterioration compared to (newer) neighbouring buildings.