This development at 40 Applegum Crescent is for a Residential Apartment Building complex consisting of two (2) x five (5) storey buildings containing seventy two (72) units with a basement car park for one hundred and sixty four (164) vehicles.

After preparing a budget I estimate the average levy will be in the range of:

    • Low $4,000 pa
    • High $6,500 pa

 

 

DRAFT BUDGET

Admin and Account

ex GST

 Low Range Mid Range High Range
Mgt Fee $8,300.00 $10,000.00 $12,000.00
Additional Fee $1,000.00 $1,090.00 $3,000.00
Accounting $1,090.00 $1,090.00 $1,090.00
Insurance $39,000.00 $39,000.00 $39,000.00
Manned Services
Cleaning $27,500.00 $58,000.00 $110,000.00
Building Management $56,600.00 $68,000.00 $140,800.00
Landscaping $1,600.00 $2,160.00 $3,240.00
Maintenance
Routine Maintenance $13,000.00 $13,000.00 $13,000.00
General Repairs $3,300.00 $6,200.00 $8,000.00
Utility Services
Waste Management $0,000.00 $0,000.00 $0,000.00
Utilities $31,232.00 $31,232.00 $31,232.00
Total Admin Budget (Inc GST) $182,622.00 $229,772.00 $361,362.00
Total Sinking Budget (Inc GST) $104,500.00 $104,500.00 $104,500.00

 

BUDGET SUMMARY 40 Applegum

Waste management

Waste management is calculated on the assumptions that each apartment will generate 3000 liters of waste per annum. We also assume that 600L bins can be used at a tipping cost at $33.00 per collection.

Water

We calculate that each apartment will utilize 174 kiloliters of water per annum with 12 kiloliters per apartment for hot water with a water cost of $2.10 per kiloliters.

Electricity

We calculate that your building is using average lighting efficiency and the budget amount allows for lights and infrastructure (lifts, cooling and other items). We also assume your energy cost is 25 cents per kWh.

Cleaning

Your cleaning has been assumed in connection with your size building. Several elements can change this including size of common area, finishings and colour of floor covering, and the amount of glass and mirrors being installed on common property.

Waste management and the moving of bins in and out of the building is also a major element that can change your cleaning costs.

Building Management

I allow building management for all buildings over 50 lots with the allowance increasing as the building increases in size. I also allow a minimum of 20 hours of building management on all premium budgets.

PROJECT INFORMATION Assumptions

  • Units 72
  • Car Parks 164
  • Building Costs $38,000,000.00
  • Lifts (number of) 4
  • Hot Water System (number of) 2
  • Basement Pumps (number of) 2
  • Mechanical Ventilation No
  • Fire System No
  • Landscaper (days onsite per month) 0.5
  • Window Cleaning No
  • Pools 0
  • Gyms 0
  • Private waste collection No
  • Private recycling collection No
  • Water metered individually Yes

How to optimize the developments running cost

To keep this building’s running costs low, but quality high we suggest the following recommendations:
– CARPET – use a dark grey carpet with white fleck
– ARCHITRAVING – don’t install them, they create something else that needs to be cleaned
– ELECTRICITY – install LED lights and senors
– WALLS – avoid glass and mirrors, keep simple white walls
– LOUVERS – include a by-law making louvers the owners responsibility and not strata’s responsibility
– GARBAGE – don’t install chutes or bin rooms, make Owners carry garbage to the basement

These simple changes to the development will enable the running costs and levies to be lower over the long term.