10 YEAR PLANS

 By now all strata complexes that need to have a 10-year plan have got one. The bizarre thing is though that you don't have to implement any of it?

Strata fees have been kept relatively low over the years with some of these complexes however it's now time to plan for the future - towards the new roof, lifts, painting, carpet etc. Good managers/council of owners are preparing for the future and putting an extra strata levy in place (reserve levy) to prepare for their future. Some old complexes have complied with the new laws but are not actually putting their strata fee's up which I find a bit concerning.

Strata fees realistically should be $1,000 per quarter including the reserve levy, if they are not then I would be wondering about it all. 

This is where you need to look closely at the 10-year plans and see if they are starting to implement them, prepare towards for their future maintenance.

10-year plans also need to be revisited every 6-7 years and updated - I see it as a money-making exercise myself as I don't believe if they are not going to enforce the maintenance what is the point?

The best thing is to talk to a person that knows the complex well, even if you can get a hold of one of the Council of Owners to find out what is really going on.  Visually though you should be able to look at the complex and see how well it's getting looked after. Always remember you can get onto the Council of Owners and make a difference.

I love the older complexes as I know what's been done, what will be coming up and especially in Mosman Park I have a good knowledge of most buildings.

If in doubt ask an expert on strata - that sells a lot in the area, they should know what's happening.

MAKE YOUR OWN DECISIONS AND GIVE IT A REAL GO!!

SELLING MOSMAN PARK & THE WESTERN SUBURBS!!

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