#38387
scotlandx
Strataguru

    Yes you are entitled to know who is in arrears on their levies, and it is the manager’s job to know what the position is. Our Strata Manager always brings a report of the financial position of each of the owners to the meeting, as of that day, and then confirms who is or isn’t financial. It’s a pretty simple report to generate and saves a lot of arguments.

    In terms of details of spending, we keep a running log of expenditure on significant items (i.e. over a certain amount – in one year we spent $11K just on drains) and give that to the owners as part of the meeting papers, that way they know further details of where the money is going. This is a continuous log so it goes back for a number of years, it’s useful in that way because you have an idea of what work has been done and how much it has cost.