There’s been a lot of talk recently in the media regarding the “defects crisis” in strata schemes throughout Australia. Starting with Combustible cladding fires in Melbourne and egged on with high profile defect cases like those in Olympic Park and the Mascot building in Sydney defects have suddenly become big news. The media attention is […]
posted on June 17, 2015 by
6 Indicators of a Body Corporate Levy Increase
One of the things I see often in body corporates looks something like this: Period Admin Budget Sinking Budget Total To Raise FY Ended 6/2014 $200,000 $50,000 $250,000 FY Ended 6/2015 $170,000 $100,000 $270,000 What this shows is that there has been a 50% increase in sinking fund budget from one financial year to the […]
posted on September 29, 2014 by
Why Get A Strata Report?
Why get a strata report? There are two key reasons to check out a body corporate or owners corporation before your commit financially and finalise your purchase: cancellation / renegotiation of the deal or peace of mind the building is sound. Buying into a body corporate is not the same as buying a house. A […]
posted on May 13, 2014 by
15 “Red Flags” In A Strata Search
I spend my days reading reports and trying to decipher what they mean, usually so I can report that information to others in a strata search. As a Strata Searcher you learn pretty early on that it’s best to be thorough in reporting. If you don’t you’ll end up going back to answer questions, or […]
posted on May 7, 2013 by
Body Corporate Records Are Private Information
Under the various states legislation strata schemes are required to keep extensive records of their expenditure and decision making. However, just because body corporate records are kept doesn’t mean anyone can access them. In fact body corporate records are private information. You wouldn’t ask to view your neighbours financial records just because you’re interested and the same applies to […]
posted on April 8, 2013 by
You and Body Corporate Membership
Sometimes people complain that they don’t need to pay their levies, or observe the by-laws of a body corporate because they’re not actually a member of the body corporate. They never joined, they don’t want to and frankly none of that stuff has got anything to do with them. And while we’re on that subject […]
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