Benchmarking Qld strata scheme running costs

Comparing the costs of running different strata blocks can be like measuring apples against oranges – or apples and ducks, more like.

How do you set a benchmark for costs when different schemes of varying sizes have disparate combinations of facilities and infrastructure?

The number of units that contribute to the upkeep of lifts, swimming pools, power, gardens and management fees all differ in infinite combinations.

Trying to find a common thread through all that, the Unit Owners Association of Queensland is conducting a comparative financial study of the costs of managing strata buildings in the state, including some of the costs of Management Rights arrangements in schemes. 

This is all part of the UOAQ’s participation in the Community Titles Legislation Working Group, sponsored by the Queensland Attorney General, with the aim of developing improvements to the state’s body corporate laws.

In order to carry out the financial analysis, they are gathering data from schemes and are calling for information from schemes throughout the state.

Specifically UOAQ admins want owners to send them:

• the latest AGM notice from their schemes, including the schemes’ financial statements;
• number of lots;
• module applicable (Accommodation, Standard, Commercial, other);
• date of the scheme’s establishment / registration.

Owners should email this information to executive@uoaq.org.au. All participants will receive a comparison of their buildings data to the overall study data. 

The UOAQ officers promise that your information will be kept secure and private within the UOAQ team, and that in any public representation your scheme will be de-identified.
 
Queensland owners with questions about this should contact Jana on 0466 983 323 or email executive@uoaq.org.au  for more information