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Yeah - I think they are one and the same. That said, the 'resident' manager certainly isn't a resident of the complex. Hmmm - you are probably right. It's probably 4k spread over a larger number of invoices. I might pay the managing company a visit and ask to see these invoices. The third...

Thanks, jaycee. This makes a lot of sense. You've all inspired me to dig up my budget! The managing agent's fees are approx 11k These guys give us a standard form listing their tasks and responsibilities. The content of the form resembles what's listed here...

Thanks for your reply - I think I see what you mean, I'll see if I can add some more useful info: From the minutes of the very first meeting, when the contract was signed, it looks like our contract started at about $9k with 5% increases each year (one year had a 13% increase - unfortunately I...

I wish it were that simple - unfortunately, on day one the developers of the complex signed a 5-year contract with the BC managers. The BC managers then went and locked the BC into 5-year contracts with various service providers. This all happened before I bought into the complex. I've since...

Sorry if I wasn't clear. I understand that the BC itself is non-profit; I am talking about the service providers (i.e. the company that manages the BC, the caretakers, and fire equipment maintenance company), one of which are non-profit. e.g. our BC pays a third party company to do the...

Hi all, I've just joined up - heaps of handy info on this site! I currently own and live in a unit in a 27-unit complex and I was looking over my Body Corporate budget and I am suspicious that I am getting ripped off. I was wondering if any of you experienced property investors out there...