We provided another response to a LookUpStrata readers question. The reader recently moved into a strata building, and wanted to know how to go about organising a roof repair with limited funds available in the sinking fund. In summary, the roof is common property and as such a repair should be requested by the Executive Committee and…
This is one from the archives: a LookUpStrata reader wanted to understand whether there are any restrictions regarding the increase of strata levies to boost a sinking fund, and whether there is a limit to the frequency at which special levies are raised. Read the full question, and our detailed response by following this link.
Leanne provided an answer to a reader’s question on LookUpStrata. The reader wanted to know how you can find out what your quarterly strata levies are. You can read Leanne’s full response by hitting this link.
Jimmy Thomson from the Flat-Chat website wrote a great post on the importance of good strata managers. “Fair Trading … received 800 enquiries about strata managers and 48 official complaints last financial year – a rise of 50 percent on 2014-2015.” “Strata schemes can be cash cows where, often, investors vote for the lowest cost option…
We wanted to share this article written by JS Mueller & Co lawyers. It explains that as of 1 December 2016, under the new strata legislation owners will now be entitled to request the owners corporation to agree to a payment plan for levies in arrears. Before the owners corporation can accept a payment plan…
Our own Leanne Habib helped our friends at LookUp Strata with a reader query regarding strata levies. You can see our response here.
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,…
Shared electricity usage is often one of the largest expenses for a strata titled building. Owners Corporations of larger strata buildings could spend upwards of 5 figure sums on their power bill. The building’s lobby, hallways, fire stairs, gardens and car park all need lighting. Then there are pools, air conditioning and central water heating. You…
We have just published a new article in which we provide some more details around strata levies (or strata fees) and strata management fees. There are a number of ways in which a building can be ‘creative’ in reducing the levies it needs to raise. This article highlights the need to do your homework before…
In a previous article, we explained what Special Levies are and how they are calculated. Please hit this link if you would like to refresh your memory. But who is responsible to pay the Special Levies when purchasing an apartment? Is it the Vendor or the Purchaser? This article, explains the ins & outs. Even Though it…
I came across this article in SMH’s Domain. It makes some suggestions on how you could lower the strata levies for your building. Perhaps it is of interest. Hit this link for the full article.