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 could give me a feel for whether or not this was the case.
The fairly modern (i.e. < 5 years) complex is divided up physical into three sections, and into four Bodies Corporate. BC1 is the 'generic' common area - i.e. gardens, basement car park etc., whereas BCs2-4 are essentially the corridors/stairs for the insides of the three physical sections of the building. You cannot go from one section to another without going outside, hence the four BCs, instead of one big one.
The complex has three levels plus a basement car park. It has one lift, which is located in Common Area 3, and funded by BC3. BCs2 and 4 don't need a lift as the corresponding common areas have only two levels (the building has a 2-3-2 level structure). There is also a fairly decent sized garden, some lawn, and a BBQ in the common area. The other thing worth mentioning is the intercom system.
Now, my questions are as follows:
1. What do you think would be a reasonable per-lot fee to be charged by a BC management company for this type of property?
2. What do you think would be a reasonable per-annum caretakers fee? Our caretakers seem to sweep and mop the floors once to twice a week, take care of any on the spot maintenance, and put the bins out. We have a separate budget for gardening, so I am guessing the caretakers do not do this.
3. What would you expect to be paying for fire equipment maintenance?
Please advise if you need extra info to answer these questions.
Thank you all kindly in advance!
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 could give me a feel for whether or not this was the case.
The fairly modern (i.e. < 5 years) complex is divided up physical into three sections, and into four Bodies Corporate. BC1 is the 'generic' common area - i.e. gardens, basement car park etc., whereas BCs2-4 are essentially the corridors/stairs for the insides of the three physical sections of the building. You cannot go from one section to another without going outside, hence the four BCs, instead of one big one.
The complex has three levels plus a basement car park. It has one lift, which is located in Common Area 3, and funded by BC3. BCs2 and 4 don't need a lift as the corresponding common areas have only two levels (the building has a 2-3-2 level structure). There is also a fairly decent sized garden, some lawn, and a BBQ in the common area. The other thing worth mentioning is the intercom system.
Now, my questions are as follows:
1. What do you think would be a reasonable per-lot fee to be charged by a BC management company for this type of property?
2. What do you think would be a reasonable per-annum caretakers fee? Our caretakers seem to sweep and mop the floors once to twice a week, take care of any on the spot maintenance, and put the bins out. We have a separate budget for gardening, so I am guessing the caretakers do not do this.
3. What would you expect to be paying for fire equipment maintenance?
Please advise if you need extra info to answer these questions.
Thank you all kindly in advance!