369. Flooring by-laws + the myth of “typical” strata levies
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Together, Reena Van Aalst and I cover:
- hard flooring by-laws. How much detail is too much detail?
- a checklist process for approving remedial works quotes
- the cash windfall hiding in a new client’s accounts (found by Reena…again)
- why real estate agents must stop seducing purchasers with promises of low strata levies
Love the idea of separating Repairs and Maintenance!! Makes budgeting easier to do ( in many ways) and the budgets easier to understand for Committees and owners.
Thanks Amanda and Reena for the information!
I believe that if we want to have transparency, accountability and buildings in good conditions. We need the regulator to help us doing it. My experience is that the Regulator is not prepared to investigate bad apples and people will be in debt for life because is easy to Rort the system.
Thanks again!
At our last AGM, when voting was under way in respect of the levies for the next financial year, as owners started voting for an amended amount different to that proposed by the strata managing agent, the strata managing agent (who was chairman for the meeting) announced that their company would cease to manage our complex if we voted for the amended amount. The amended amount would have resulted in a slightly lower closing balance in the capital works fund, but not a material difference.