Q: The body corporate is asking for more and more money and nothing changes. Can someone help to look into how this is happening and why
Why is thebody corporate is asking for more and more money and nothing changes. – Kathleen, NSW
All the lot owners (called the owners corporation) decide the levies during the annual general meeting (AGM). The AGM meeting agenda includes the budget that determines the levies. It also shows how the funds are allocated in the budget.
If you compare the budgets from different years, you can see how the expenses change and ask questions about specific items like insurance, maintenance, and electricity costs. Owners are encouraged to attend the AGM, review the agenda in advance, learn about the process of levies and have a say in the votes to represent the majority preference accurately.
This article: https://picagroup.com.au/article/enhancing-community-living/how-your-strata-property-type-may-affect-your-levy-payments/ may also help in understanding how levies are calculated.