Monday, 17th June 2019

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6 replies [Last post]
DRapartment
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Last seen: 5 years 26 weeks ago
Joined: 09/04/2010

Not much of a figures man but it makes me laugh when people complain about levies like it is the strata manager taking the money and keeping it themselves. Our strata manager doesn't give us the best service but what can you expect for the pittence they get paid for their management fee. That's why this site is good. People should come here to have the easy questions answered.

PeterM
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Last seen: 2 years 12 weeks ago
Joined: 15/08/2010

That is all fine but if you have the right person working out the figures, that really shouldn't happen. That is how people like stratastressed get into such a mess. Not many people can afford to have their levies doubled. That aside, I think auditing should be mandatory.

investor
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Last seen: 8 years 10 weeks ago
Joined: 24/03/2010

I agree. Mandatory auditing - it makes everyone accountable

Stratastressed
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Last seen: 5 years 37 weeks ago
Joined: 15/08/2010

All due respects PeterM, I just haven't lived in a strata apartment before so I had no idea I would be in this "mess". I don't think many people would expect their levies to double in a year unless they fully understood everything that could happen in a strata building. Thanks to this site, I am going to try and educate myself and if I ask stupid questions so be it.

I think this site was started to help people like me and to give me a place to ask "stupid" questions. I actually don't think I am in a "mess", I just didn't expect the rise to happen and I don't think most people in my position would expect it to happen.

Strata Guy
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Last seen: 5 years 35 weeks ago
Joined: 19/05/2010

Hi,

I am involved with a building and we had our first AGM a couple of nights ago. The question was asked "who has owned a strata apartment before?"

Out of 30 owners present - only 4 had owned before!

owner1
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Last seen: 7 years 42 weeks ago
Joined: 24/03/2010

I find it amazing as well as to how many people have never lived in a strata building before. I am chairman of a building and it was almost impossible to put a committee together because everyone was scared to put their hand up because they had never lived in an apartment before. That building has 42 apartments. Certainly shows a shift in lifestyle to apartment living.

Michael W
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Last seen: 5 years 16 weeks ago
Joined: 01/10/2011

Hi DRapartment

A good strata manager I am confident can do well financially and good luck to them. However, folk who go into business know there are risks involved and in the end it is their choice. I think if you look at your strata managers charges they add up to tidy amounts, also recognise they get 15 to 20% of each and every insurance premium, multiply this by the number of properties they look after and I think they can do just fine.

I good agent does work hard and I have no objection to businesses of any kind making really good money, but the strata industry is a little different. I think we need to realise quarterly levy contributions can for many be the biggest quarterly bills some folk get. Yes, levy contributions pays for many things, but strata titled properties are getting more and more expensive to manage and owners must look after their own financial interests first

All the best, regards

Mick W

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