At SSKB, our Community Managers are commonly asked the question ‘Where does the money go?’ In reference to levies, many lot owners query whether their costs are too high in comparison to other buildings, and more importantly- can their levies be reduced?
SSKB Director, Paul Wood spoke at the Gold Coast Living in Strata Trade Show, on the topic of ‘Where does the money go?’ Gathering statistics from 180 buildings- inclusive of over 10,300 lots from a period of 2009-2012- he gave a full analysis on the average spending of bodies corporate.
“While all buildings vary, I hope the statistics provided; give you a better understanding of where money is being spent,” he said.
Mr Wood looked at the average spending in relation to bodies corporate sinking fund and administration fund, not neglecting water and insurance prices.
“It’s important to find that balance between spending, finding value for money and ensuring facilities and services are kept up to the standard they should be-maintaining the value of all lot owners investments,” he said.
To download the full presentation, click on the link provided. ‘Where does the money go?’ – Presentation