Just got a strata report for IP unit we are about to buy.
Strata is high - and the majority of it is going towards $25000 p.a admin fund (+$1000 p.a in sinking)
Total expenditure in the last 6 months is only $5000 so I'm trying to work out where the other $20000 is going to go.
Also, if it's not spent what happens to it? Does it just stay in the bank?
FYI current sinking fund is about $45K, Admin fund $8K
Strata is high - and the majority of it is going towards $25000 p.a admin fund (+$1000 p.a in sinking)
Total expenditure in the last 6 months is only $5000 so I'm trying to work out where the other $20000 is going to go.
Also, if it's not spent what happens to it? Does it just stay in the bank?
FYI current sinking fund is about $45K, Admin fund $8K