This sigh is an ultimate mega super sigh to the extreme. My strata is already a whopping $495.95 per quarter, for a 1 bedroom apartment in a complex with nothing except a lift as an amenity. Now I have a notice that it will be increased by another $400 to $470 per quarter!!
This increase in strata will take my quarterly fees up to $900 – $970 for the next 5 years. The reason for this massive hike (almost doubling) is that the building needs to undergo extensive defect remediation. The builder, who is dodge to the extreme, has basically declared bankruptcy and cannot fund the repairs. Despite, of course, the building still being new enough to fall under “builders’ warranty”. Pretty frustrated at the good money down the drain. It is time to sigh.
Mine is 650 admin fund + 200 sinking fund = 850 + gst /quarter so we are on par now. They’ve just increased the sinking fund payment by a lot which means the balance will go from 100k to 300k. there is only 15k worth of expenses this yr for the sinking fund. wtf sighworthiness.
Well at least you dont have massive building defects. Sigh.
…and you have a pool Suti (albeit unused by you)…all Yman has is a lift.