Q: Hello. I have a question re my strata fees. When we bought the unit in March 2022, the disclosure statement figure for strata fees was $5,120 pa and they have all but doubled to $10,600.60. I would like to discuss this please.
My strata fees have doubled, I would like to discuss this – Rarnie, QLD
A: It may be worth reviewing the budget in detail to see how your strata fees are set. Have a look at the current health of your scheme’s maintenance fund and take into account the expected expenses over the coming year (which are detailed in the budget), plus the desired cash balance at the end of the year will generally be the way that levies are arrived at.
Ensure you check your AGM minutes and motions as there may have been emergency repairs or upgrades that require a special levy to be raised, which will add to your total strata fees.