@PeterC said:
Not just who pays but whether they will pay! If you try to get people to pay for the required work via a levy or taking a loan there is a good chance people will vote to do nothing and spend nothing. If you have a sinking fund plan in place and the levy is planned and on a schedule etc. people get used to it and don’t complain (at least not as much). If the plan includes a contingency component and something unexpected needs doing, or you even propose an improvement to the common property, there is a chance it will be approved because the money has already left people’s pockets.There are savings to be made from attending to work in a timely manner as well.
I agree.
My preference is to have slight increases in levies over the years than Special Levies, or Loans. Now I am not working full time and prefer to have an idea of my quarterly costs if at all possible. I realise there will always be emergencies and not enough money available, but at least there is some.
Loans have charges and interest rates do not always stay low.