Owners becoming involved in the running of their Strata.
It is quite common for some owners not to become involved in the operation of their Strata property, until such time they receive a levy notice after the budget has been set at an annual general meeting.
This often causes conflict between owners who do get involved, who feel they are the ones left to make all the decisions from how much money is paid into the fund to any maintenance and compliance matters. As a Strata Manager, we have an obligation to our clients to ensure they are aware of compliance matters such as common property safety and asbestos audits, insurance and insurance valuations, and to provide a proposed annual budget based on expected and actual expenditure.
While it is the decision of the owners as to how much funding they wish to contribute for a 12-month period, the goal is to ensure your investment is protected and allow for any contingencies, such as an unexpected but expensive plumbing repair.
We encourage our owners to attend the annual general meeting as a minimum, which can be via Skye, telephone or simply a proxy form. This allows owners to ask questions and have an input into the following 12 months of how the property will function. This may help to clarify the responsibility of maintenance and what options there are to more effectively resolve long term matters.