The annual strata budget is often the only engagement that people have with a building (by paying levies), and it can easily get out of control if you are not aware of market movements that impact your building.
A levy increase of 5%,10%, or 20% in some buildings can lead to a disaster for all the good work done by the committee.
To reduce the budget & levy shock our recommendations are:
- Follow our Strata Levy Index – download our latest report and we will keep you updated with future reports.
- Provide owners with a 6-month update, on financials and expected levies for next year, if it is likely that an increase will be required.
- Make sure you spend money on at least one visual project owners can see and apreciate
