There are many ways you can cut charges and curb levies, and some will even make your building a better place to live.
Another potential area of savings is in your strata management contracts. Basically, there are two kinds on offer: one is a set fee that covers everything while the other more common contract has a schedule B component.
Go for an all-in service if your strata scheme has a lot going on – whether it’s dealing with “difficult” owners or handling defect rectification – but pay less upfront and cop the schedule B fees if your community is more settled. Check your by-laws to see if they are out of date, leading your block into hard-to-defend potential conflicts, such as over pet ownership.Meanwhile, if your committee does take action, it should apply for costs and fines to at least attempt to offset the expenses.
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