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  • #8247

    Okay, this is a peculiar situation. I live in a Potts point complex that has three stand along buildings on the one site and covered by the same strata. One building was build 1916, the second was 1923 and the third, where I live, 1938 (it was interrupted by the Great Depression). No one can say for certain but it appears the owners in buildings one and two developed the third building and literally dumped all the entitlements into that building. I am on the top of the building, third floor, no lifts, no pool etc and my apartment is half the size of apartments in buildings one and two yet I pay considerably more levies. The other two buildings are also three floors high and, like me, have harbour views. For example – my apartment is 148 sm and the equivalent top floor apartment in building one is 248 sm – yet I pay approximately 16% in more levies and sinking fund. I also find my rates and water are pegged to my entitlements so I am being hit twice. I called the dept of registrations and they could not explain the difference other than the ‘dumping’ of entitlements. Ditto Fair Trading. No one seems to know the answer. Many of the owners in building three are affected and we are wondering how we should approach revising the levies. Can it be done without a great expense? Do all apartments have to be valued? What if the Body Corp members agreed to a proportional change (it wouldn’t be a major impact on most) – how does one approach such a thing… and is it worth it? I should say our levies are ridiculously high – mine are now $5300 a quarter and rising 12% annually. Help!

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