Body Corp Fees too much?????

[Jonny G]

Hi all,

I'm currently at a X roads. I owner occupy a 2 bed / 2 bath unit in Taringa (BrisVegas), 6 in the block, no pool or lift. The unit block is 12 yrs old and in great condition. My quarterly BC fees are:
Admin - $365
Sinking - $130.

Is this competitive in the market, and how do I angle for a reduction in admin cost, as I personally cannot justify it myself?

Thanks

 

[The Y-man]

The AGM should have the financials broken down - eg insurance, common property maintenance, management fees, etc.

Find out which bits look a bit inflated.

Cheers,

The Y-man

 

[Francesca C]

Hi Johnn G

I agree, it does seem a little rich.

Ask them for a copy of the "Levy Schedule" and "Administration Fund".

Also, you should be having regular meetings?

From my experience you have to keep the Administrators accountable.

 

[Jonny G]

Much appreciate the prompt reply.

I have my AGM in two weeks so I'm aiming to get "knowledged up" prior.

Thanks for the heads up.

 

[Qlds007]

Jonny

I own City Body Corporate here in Brisbane and we charge between $140 - $230 per Lot per Annum.

We have just taken over a block of 24 in Montrose Road, Taringa because the existing Body Corporate was charging an arm and a leg and doing nothing.

Be happy to have a look over your Management Agreement if you wanted me to .

 

[Nth Brisbanite]

I'm chairperson of 2 body corporates and am amazed at the lack of interest shown by the vast majority of owners. In one complex there are 16 owners and we would be lucky to get anymore than 3 owners to an annual general meeting. The owners who complain and demand the loudest are those who are not willing to contribute anything to the running of the complex, instead expecting the body corporate manager and a small unpaid committe to do all the work. A few of the owners even offered to pay for a free Christmas party at the complex and even then only 5 owners turned up.

Jonny G, if you are not happy with the fees you should go to the annual meeting where you can question those who set the budget. Our body corporate has committee meetings on site where any owner can come along and ask anything they like. Try getting along to these meetings if such meetings exist.

 

[Jonny G]

QLDS007,

Much appreciate the feedback. I will be in touch next week for further discussion.

Nth Brisbanite,

I totally agree. I'm struggling to get people involved in our body corp, so it's hard for me to gain any interest from other parties when it comes to ANY matter......Might have something to do with the fact that there's only 1 other unit having an owner/occupier......maybe?