After self-managing my small scheme (8 lots) for many years now I have seen us go from needing special levies regularly to make necessary repairs and maintenance (when we had Strata Managers who we THOUGHT would have budgeted effectively) to a position now where we are actually looking for things to spend our levies on. In the past 15 years our levies have risen by less than 50% in total which is negligible considering the inflation of costs over that period.
The time and effort involved is not the only thing to consider (not that it really takes up that much time or effort). What should also be considered is the increased level of “friendliness” between owners because work is done when needed (or sometimes even before) rather than conflicts arising because someone has their problem addressed but others don’t.
Since we started self-managing I have found that owners are more receptive to what is needed because they are more mindful of the fact that their property is an investment in their future and it needs to be properly protected and maintained. Their interest is therefore much greater and they are also more willing to help (both the Strata and their fellow residents) when needed. We are now a much friendlier and co-operative community.