DID YOU KNOW????
According to Office of Fair Trading statistics more than two million people in NSW are strata dwellers, accounting for almost 25 per cent of greater Sydney’s population.
There are approximately 75,000 strata and community schemes across the state that total about $350 billion in total assets.
With those facts in mind, there is little wonder that Strata Reform is back on the agenda.
From a local perspective, we recently provided feedback for an article in the Advertiser. Below is the link to read about how the reform could fuel construction grown in the Illawarra.
Some of the more interesting proposed changes include:
· better management of parking on common property
· new model by laws that address smoke drift, the impact it has on other residents and changes to the standard pet by law
· provision of a 12 month time frame to adopt the new model set of by laws.
And their costs
Did you know that your one hour AGM held during business hours in our office is covered by your standard management fee?
Additional meeting charges ONLY apply if a meeting is held after hours or outside the office. If you wish to save on fees, perhaps consider holding your annual meeting within business hours at the office.
Did you also know that either attending the meeting (once per year) or sending a valid proxy (if you’re unable to make it), will also save you money??
A Meeting needs a minimum of 25% attendance for it to go ahead. This is called a quorum. If a quorum is not achieved within 30 minutes of the start time, we are obligated to adjourn the meeting. This results in an adjournment fee being charged and a little bit of time wasting for those owners who have shown up. So….to save money, send in your proxy form & put your votes in writing.
NBN is all around us – its either here, or its coming soon. Your committee should consider a policy on how to handle installations and what is acceptable. Service providers should ensure that they connect the NBN from the white box above the door, to the inside of the unit WITHOUT drilling additional holes or running extra conduit. Keep it neat & there’ll be no complaints.