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Fees charged by strata management company
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actyve
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05/08/2018 - 7:02 pm
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Our unit block comprises 18 units and has been using the same strata management company for years. 

We are reasonably happy with the service but the accounts always show quite a variety of charges which I am not convinced are all justified: for electronic storage, other storage fees, work orders, admin expenses, quarterly report fees, schedule b & d fees, sundries, as well as standard management fees.

Is there some rule of thumb for evaluating what fees are reasonable? The building is in good order in general and the issues handled are low level (e.g. such as organising a visit by a tradesman maybe once a month).

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05/08/2018 - 9:52 pm
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actyve said
Is there some rule of thumb for evaluating what fees are reasonable? 

No but there is a rule of thumb that says if you don’t use your strata manager a lot then you are better to have a low up-front fee but if your are on the phone to them every day then you’re better to have an all-in fee with no extras.

The world has changed a lot in the past 18 years and some of the charges you are getting now didn’t exist before.

Take your bill to another strata manager and ask them what they would charge for these services.

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Stratabox.com.au
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07/08/2018 - 6:01 pm
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Your management agreement should have all the details of which fees apply and when. You can always ask your manager if they have different types of agreements and see if another is more suited to your needs. And yes, every few years it is always good practice to “test the market”

In the case of a low fixed-fee setup, t is also worthwhile reminding all owners regularly that contacting the manager can generate additional costs!

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