I recently received the following excellent question from Frank: I’ve just bought a unit and am confused about the budget-setting that you mentioned. Who sets the proposed budget for the AGM? The committee? he treasurer? The body corporate manager? And what if the meeting wanted to increase the proposed budget by, say, 15% because of some […]
posted on March 4, 2015 by
5 Simple Tips For Stress Free Unit Ownership
I’m a strata searcher. Most people look at me blankly when I say that so now days I tell them it’s a fancy phrase that means I investigate body corporates. “Oh!” they reply and then proceed to tell me horror stories about their body corporate. Don’t get me wrong, I don’t mind. In fact, keep […]
posted on May 29, 2014 by
A Quick Guide To Levies In Arrears
In any group of people required to contribute financially on a regular basis there is inevitably going to be someone who defaults. In body corporate lexicon a levy issue that has been defaulted on, ie an invoice that has not been paid by the due date, is considered “Levies in Arrears”. It’s a good idea […]
posted on March 4, 2014 by
Case Study: Insufficient Sinking Funds, Why It Happens And What It Means
Someone told me a story the other day about an apartment sale that fell through when the purchaser found out the building needed lift replacements. At an estimated cost of $1,000,000. To be shared by 60 owners. My first reaction was, wow, great example of the benefit of a strata search. My second reaction was, […]
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