Hi everyone
I have recently looked at an investment property on the intenet upon reading the info on this property it show that there r to sets of body corprate fees. Just wondering if anyone could tell me y charge two sets of body coprate fees?Thanks very much in advance.
Cheers Adam
Not sure,but they may be referring to a sinking fund or special levy.
Tools
The normal strata fee covers the day to day stuff like administration, insurance, normal maintenance, etc. Most strata corporations also have a sinking fund for the big maintenance items like painting, roof, carpet for the common areas, etc. Funds accumulate in this fund until needed and are then spent after the owners vote on what needs to be done and who should be hired to do it.
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