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[Anonymous]

Hi,

Am new to all things strata and need advice.

As a chairman of the Executive Committee ( running blind on duties and obligations ) we have taken the advice of our strata manager on all arrangements of building care and responsibilities.

We are in NSW a 70's 30 unit block of flats that now requires major work on a sinking corner that has internal and external cracking.

We have had many investigations and quotes from engineers over many years and have accepted one quote to fix.

That brings us to the raising of a special levy stage 1 for this amount approx $2,000 – $3,00 depending on size of unit.

The strata management agency advises a loan to be raised and has called a meeting within less than 7 days with only 2 dates to choose in same week – with no other dates available to meet until 2011 – work committments have me unable to attend.

So my questions is: is it common practice for exec committee to get a loan for major works ? Where can I find out more ? Who pays interest ? What advice , warnings can you give me ?

Is it not the personal obligation of each unit holder to make personal arrangements eg: personal loan, increase mortgage or savings ( have had lots of warning of impending spend ) to pay special levy ? 

Thank you 

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