Monday, 16th September 2019

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Last seen: 5 years 38 weeks ago
Joined: 08/05/2012

We have a 4 unit strata about to have its AGM. One man owns 2 of the units, but is in the process of selling them. He wants to reduce the budget so the levies will look good to potential purchasers. However, the other 2 owners want to keep the levies as they are or increase them to build up the sinking fund.
What do you do when you have a tied vote? They also have equal units of entitlement, so we can't even do a vote count that way.
Can someone please let me know asap, as their AGM is scheduled for early January.

Last seen: 6 years 36 weeks ago
Joined: 27/12/2012

Quote 75A of the SSMA to them (have to have 10-year sinking fund plan and have to fund it).