Reply To: How to manage strata finances if levies dry up

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06/04/2020 at 9:52 pm #49352
Jimmy-T
Keymaster
Chat-starter

    Ummm … the general meeting will be of the Owners Corporation, but someone needs to call it, and that would be the committee.

    Also, if you are seriously strapped for cash, you might inquire about a payment plan, and to be excused from penalty interest (which also requires a general meeting).

    But I was chatting to a senior strata manager today and he said that a lot of OCs are saying they want to reduce their levies and his response was that costs are likely to go up, due to more people working from home, while the relevant question is, which item in your budget was an over-expenditure when you agreed to it at your last AGM?

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