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 […]
Tag: Budget
Review your Strata Expenditure
To review and optimise your expenditure you must first understand where your money is spent, what is optional, and what can be changed and when. Divide your expenses into groups (admin, insurance, utilities, repairs, capital expenses, cleaning, building management, other) Calculate the percentage of total spend for the group Select a group for closer review […]
What do strata levies pay for
If you own a strata apartment you will be familiar with strata levies, but do you understand what they get spent on and why? Strata levies are the invoices you get every quarter, six monthly, or 12-monthly from your owners corporation. Strata levies are unavoidable, and they are not an optional expense, if you are […]
Your Strata Budgets & Strata Levies
The budget and levies of a strata apartment building are the single most crucial part of strata. Because nothing else is possible or matters if you aren’t about to pay for it. Striking the right balance between levies raised and money in the bank is always difficult. But to help you get your owners corporation […]
How Do I Calculate My Strata Levies?
Strata levies are the most common source of tension and frustration between strata owners, strata committees and strata managers. These frustrations often occur because of a disconnect between spending or budgeting and the amount that each owner needs to pay towards the project. This simple comparison calculator helps people understand the real difference between in […]
How to keep strata levies low on a new development
Keeping strata levies low starts during construction and design, this is a simple guide with some of these elements that can be implemented to reduce the ongoing running costs of a building. I’ve broken these items into groups being a housing development, apartment block, industrial and townhouses. Some of these have limited environments where they […]
What is the Strata Committee’s job?
[one-half-first] [/one-half-first] [one-half] Despite everything you have heard the strata committee only has two jobs that they need to balance. Manage the expenses and levies of the strata building. Increase rental yield & market values at or above area averages. After all, if you have purchased an apartment that’s what you want. Achieve the, lowest […]
Creating a Strata Building Strategy for your Strata Building
Every committee and owners corporation has the responsibility to maintain and increase the return on investment if each owner. Every strata building or body corporate should be considered as a small business after all the smallest of buildings is worth a couple of million dollars. In the same way that a successful small business operates […]
7 Rules for Strata Levies
[one-half-first] [/one-half-first] [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 […]