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. We see only the date, payee, and the amount and date we paid it
I am in Victoria. We have a web portal – we only see a one-line entry – which is the accumulation of receipts for a particular category – in the AGM agenda- nothing throughout the year.
In Victoria – the findings of the survey undertaken about strata has yet to be released.
Whilst older flats can represent better value than new units, one significant drawback is that they may not be governed by the strata laws set out in the Owners Corporations Act 2006 (Vic).
Msnyolder buildings operate under company title, governed by the Corporations Act 2001 (Cth) together with their Memorandum and Articles of Association and a registered Service Agreement.
A company-title structure — where as few as two directors can make binding decisions — introduces an entirely new level of frustration.
They really wrote this?
“This may effectively create a net market model, a practice where insurance products are priced without commissions meaning the cost of adviser or distributor remuneration is separated from the product itself,” they say, arguing that, if commissions are made illegal, insurers are likely to retain windfall gains rather than transfer full savings to consumers.
Unfortunately the problem with the behaviour of the Strata Manager is that it is not as simple as getting a pizza from Dominos.
It would also be reasonable i think to “stratify fee structure” – it seems obvious that managing 12 lots is very different to managing 100 lots or more. Would the SCA Contract allow for this?
Woukd it be possible to have “roving” Strata Managers charging fees for specific services? I suppose that would mean a lot more work on the committee being “on top of it all”?
(This is NOT exclusive use, I own it as part of my lot)
How many lots are affected by the roof – just your unit?
Was the roof “acquired” as part of getting the deck? If so you have a record of this?Is there anything at all on the roof? I had a deck in the roof and wheel it was removed I had to go to vcat to get it reinstated. The advice was a reputable builder would know all the safety regs and permits etc.
so having a builder report might help the insurer/insurance.
Do you know how long ago the roof was replaced?
I was just thinking of the levies only and assumed there is no primary loan. Not to be able to afford the levies would be awful even at a home rate loan.
No to an old SCA Contract
Subsidising unpaid levies – maybe … a loan against the property?
Taxation managment fees – maybe if there is a note against them explainind why from the SM or ChairDo the lights shine “outside” of your lot? Do they interfere with anyone else?
Were you “allowed” to go to a broker and there was no penalty re still having to pay the commission?
For one of my buildings we found the best value was to engage agood broker to do the leg work. We made sure that the risk assessment document was accurate, and even provided information to the insurers to show we were low risk
The SM for our complex has a per unit rate for each of Management Fees Accounting sevices Banking management Disbursements online portal fees Trades compliance
I don’t understand – so if, for example, the Accounting fees are $100 and there are 10 units- each owner gets a bill for $10.
Is this much different to paying $100 as an Administrative fee? I mean owners can still calculate the final fee? What is the advantage of having per unit rate? In fact this per unit rate would magnify the rather meaningless headline rate which contracts are usually “sold” on.
I would also say – make sure you keep the AGM Minutes going back forever.
I was in the situation that there was no record of any approval for a deck area and it was declared “illegal”. Luckily i found the AGM minutes. – there is something to be said for keeping minutes for 40 years
It was a surprise to me that these AGM minutes were not available/kept.