Strata fees: higher due to8 in the block

[awoawo]

Hi all,

Is it better to buy an apartment in a block of say 12-15 apartments

rather than in a block with 8 apts? It seems to me that strata fees are generally

higher in blocks with 8 apts.

( No lift, no pool both blocks of apts are older style, I am comparing apples with apples)

 

[knightm]

Hi AWO,

There is no direct correlation between number of units and body corp rates. I have seen bc rates as low as 25pw for 6 dwellings, and 16 dwellings, and up to 150pw for a variety of sizes too. It has more to do with the maintenance required onsite (gardens etc) any recent repairs and whether the bc is externally managed by a company or if the local owners do it all (hold meetings, fix problems themselves etc)
When buying one main thing to check is the amount of $ in the sinking fund. The more the better for any future repairs that might be required.

Hi all,

Is it better to buy an apartment in a block of say 12-15 apartments

rather than in a block with 8 apts? It seems to me that strata fees are generally

higher in blocks with 8 apts.

( No lift, no pool both blocks of apts are older style, I am comparing apples with apples)

 

[Spades]

Hey awol,

knightm is pretty much spot on but depends on BC...As an Eg:My last place had no need for a sinking fund as we had 6k in front...You gotta go on BC minutes and what has been done and may have to be done in the future.

Older blocks aren't bad as long as there art deco