#53342
kaindub
Flatchatter

    I hear the claims of overcharging, jobs for the boys etc. The loudest voices come from owners who are not on the committee and who rarely turn up to meetings.

    One  cause of this issue is a lack of  communication by the committee,  that is if one is active.  Let owners know what is going on and why. If owners understand why decisions are made or  costs incurred they can be a little more understanding.

    Another cause is not the lack of  committee involvement. When did your  committee last audit the accounts.  I don’t mean by an accountant I mean looked at every expense and queried them with the strata  manager. I’ve recovered almost 10% of our budget because supplies charged incorrectly.

    How often has the committee gotten heir own quotes for work around the building? The companies that strata managers use are some of the most expensive trades around. You can do better finding local tradesmen.

    When was the last time you tendered for your strata management. Many strata managers have an automatic 5% rise clause, After  a few years there fees get out of alignment with the market. Firstly  at the next renewal challenge this clause. Most strata managers will alter this to a lower % if asked. At the next renewal ask other strata managers to tender and let your current strata  manager know that this is what you are doing.  They’ll sharpen the pencil.

    Whilst many will disagree with me, property is not a passive investment. Whether you are just owning your own place or letting, you need to be involved. That way you can be incharge of the running costs.