No discussions yet

Why don't you be the first to start a topic on this article?
Start a new discussion

We need your help to improve Living in Strata! Spot something not quite right or have more to add? Click on the pencil at the end of the article to edit or update… or even add an image.

To start a discussion or ask a question, use the box to the left (it's linked to the forum)

Ongoing costs for the body corporate

The following costs are indicative only -

  • Maintenance worker for gardens and grounds - $32,000 to $48,000 per year per person
  • Security office (1 person, 24 hours per day, seven days per week) and patrol car - $250,000 - $300, 000 per year
  • Sinking fund costs – $150 - 700 per lot per year
  • Community insurance (public liability and replacement and reinstatement of  body corporate assets) – for a standard $20 million policy - $30 per lot per year + / -a risk premium for special risks for items like playgrounds and lakes.
  • On-site resident management couple - $80,000 to $180,000 plus accommodation

 

Something to contribute? Click on the pencil.
Last edited by an Administrator
Comment
« On-site Management | Savings From Being in a Community Title Scheme »