admin and sinking fund nearly zero

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  • 30/10/2015 at 7:34 pm #10218 Reply | Quote
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    Flatchatter

      I live in a building built @1940, 4 units. For the last 3 years I have requested our sinking fund be set higher. As at 30/09/15 our admin account is overdrawn $1714.15 and sinking funds is $2858.60, total net assets is $1144.15.

      We cannot afford to repair/replace anything- the other 3 lot owners do not support higher levies- what should I do?

      I am not in a position to come up with funds if a special levy was required to pay for a major item.

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    Reply To: Reply #24365 in admin and sinking fund nearly zero
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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