You must be registered and logged in to reply to posts or post new topics. Click on "How to Use This Forum" for simple instructions on how to get on board. NB: Please do not use your real name or email address as your screen name - if you do it will be changed to something less insecure.
We recently received the minutes for our upcoming AGM. In the budget and proposed capital levy for next year, the strata manager has but $20K (total, to be split between the 6 units). We had high capital budgets the last few years due to some upgrade works but nothing planned for the next year.
Can I vote to have this amount reduced, or is there a minimum amount a strata must hold in their capital funds?
I agree with JT. The key is the plan. You should have a plan that anticipates various irregular, possibly large, maintenance costs plus, ideally, a contingency margin, and matches that with regular, even, annual payments. The point is fairness. Everyone who is an owner in any year contributes a manageable amount that stays about the same to cover the inevitable occasional large expense.
Most Users Ever Online: 518
Currently Online: Ethicsfirst
Currently Browsing this Page:
Billen Ben: 205
considerate band fair: 160
Guest Posters: 243
Moderators: Sir Humphrey, scotlandx, Christopher Jones, Lady Penelope, Stratabox.com.au, Jimmy-T