Strata Report - Defects and Special Levies

Wanyanchen

Hi guys:
I just received strata report for the apartment I am going to buy, looks like it has defects and special levies (need to pay $162.80 in November). the apartment is about 13-14 years old, is it still worth buying?

Thanks you very much!

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Executive Committee Resolved at Meeting 8/9/2011 to approve expenditure of up to $120,000.00 for
the rectification of fire safety defects subject to extra quotes for rife doors and emergency lighting. It
was also noted that the Annual Fire Safety Statement was overdue. Executive Committee approved
revised quote at Meeting 6/10/2011 for fire safety defect repairs and emergency lighting.

Details of any current Special Levies:
Determination Date 28/7/2011
Amount $ 308,000.00

Special Levy struck for :
Financing the Administrative Fund budget deficit.

Due date:
Special Levy raised in two unequal amounts $180,000.00
and $100,000.00.
First Instalment Due 15/8/2011, Second Instalment due
15/11/2011

Do records disclose possibility of Special Levies in the near future ? No

Consideration must be given to future proposed major expenditure and the values of the
Administrative and Sinking Fund.

This is for the apartment I am buying
Applicable amounts due for Lot XXX, 15/8/2011 $293.04 and 15/11/2011 $162.80.

Note : Any Special Levies listed are for the whole Strata Plan and the amount due for each Lot
is according to unit entitlement. Eg., A portion of the amount due.

[ 本帖最后由 Wanyanchen 于 2011-10-26 14:15 编辑 ]

wTam

How much is the levies?  Lots apartment have special levies nowaday.

Wanyanchen

Current Levies / Arrears for Lot XXX
Administrative Fund $ 802.46 per quarter
Sinking Fund $ 70.29 per quarter
Arrears $ 876.49
Levies for Lot XXX paid until 30/09/2011

麦芽儿

I am buying my first unit as well, worrying worrying and keep worrying.>_<

icesnoopy76

The whole block has about 600 units if all figures are correct (180000/293.04)?  Seems to be a fairly big apartment block.

The fire safety issue can be addressed easily which is just a matter of money.

Wouldn't worry too much about the special levy of $450 per unit which is nothing compared to the purchase price. The purpose of that special levy (to finance the admin fund deficit) could be somewhere to look into though. It sounds to me that there is a lack of money in the admin fund which may lead to a levy rise to your quarterly contributions.

Just my 20 cents.

Wanyanchen

there are 800 units

thank you so much for your advice

[ 本帖最后由 Wanyanchen 于 2011-10-26 14:42 编辑 ]

wTam

原帖由 Wanyanchen 于 2011-10-26 14:13 发表
Current Levies / Arrears for Lot XXX
Administrative Fund $ 802.46 per quarter
Sinking Fund $ 70.29 per quarter
Arrears $ 876.49
Levies for Lot XXX paid until 30/09/2011

几百刀的Special levies不要紧，现在很多公寓都这样。主要看有没有大的维修要做，Sinking fund有多少？

Wanyanchen

found below details, does it look fine? thanks
--------------------
Administrative & Sinking Fund $ 345,963.44
Investments $ 350,402.00

Actual Cash at Bank for Strata Plan $ 696,365.44
Arrears $ 188,646.30
As at 24/10/2011

Insurance Premium renewal date 31/01/2012
Did Inspection disclose any current Special Levies ? Yes
Did Inspection disclose possibility of Special Levies in near future ? No
Has there been any changes to the By-laws in the last three years ? Yes

icesnoopy76

平均每户余额才千把块， 有点紧张， 估计很快要涨LEVY。

那么多拖欠的STRATA LEVY， 缺钱的业主邻居多啊。