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[one-half]Strata levies are the one contact point that a strata building has with each owner. While 100% attendance should occur at the AGM, we all know it doesn’t happen, not even close.
This makes the management of levies and therefore expenses the single biggest duty of the committee and strata manager.
When considering your budget and levies these fundamentals will always guide a committee to start budgeting and decision-making:- [/one-half]
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costs always go up
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always put your levies up by a minimum of CPI (2-3%)
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manned services (security, concierge, building management, cleaning) quickly increase the running costs. Be sure you are getting value for money
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insurance is the single biggest invoice you pay each year
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always smart to invest in energy saving initiatives
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the older the building the more you spend on repairs
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major works always cost more than your first estimated
