There is a provision under NSW strata law that if the developer presents a budget that is seriously under estimated – to keep levies low to help sell their properties – the Tribunal can order them to compansate the owners.
The informal advice I’ve had on that is that the cost of pursuing a claim would outweigh any benefit. So why have the law in the first place if it is so impractical.
The next review of strata laws should establish benchmarks – maybe CPI plus 5 per cent – after which the developer has to make up the shortfall for the first three years.