Get ready to elevate your knowledge with Strata Life podcast, the place where you should go to learn and get inspired on all matters strata. Welcome to Strata Life by Rochelle Castro. And today I will be talking about what is the purpose of the Strata community's budget. The, there are three components to a Strata community budget, which is raised at the annual general meeting.

And it's important that you as lot owners attend the annual general meeting so that we could have a say on the budget that's going to be passed in the next 12 months or within the financial year period. So the three components of a strata community budget are the following you've got the administration budget.

You've got the maintenance or sometimes they call sinking fund. Others call it capital works fund budget, and you've got the special levy. So the administration budget is for the daily operations of the strata community. A big chunk of that is the strata insurance, where the premium that would provide for replacement or reinstatement of the building and also the public liability.

The other parts of the administration budget would include the strata manager's fees. It would also include any charges that would have to be paid for the government expenses for repair and maintenance that is, uh, It comes based on circumstances. So once off works, for example, it would also include components such as disbursements or expenses that would be part and parcel of the administration budget.

So that's one part of the strata community budget. The second one is it's got three different terms, depending on which state you are in. Other states call it maintenance fund. Others call it Sinking Fund, the others call it Capital Works Fund. So usually these are for long term maintenance plans. An example of it would be lift replacement works where it's a, uh, requires a large budget and it would take years for the strata community to save money up and to spend for that particular plan.

So really the maintenance a sinking or capital works fund is acting like a bank account or savings account, whether it's part of that bank account. When I mean that, don't misunderstand me. It, it means that it is put as a separate funding that would be spent based on what is planned for long term repair and maintenance.

The third one is a once off levy, which is a special levy, and these are for special projects. It doesn't necessarily have to be relating to repair and maintenance. It could also be for experts expenses. So when there are incidences such as unfortunate building defects or where there is an ex, a special project such as upgrading the common property and, uh, it needs to be raised as, as soon as possible as a once off levy, that would be called a special levy.

Remember what I said, it's important that you attend the annual general meeting to determine and have a voice. In the budget that's raised for the financial year and also the special general meetings that are held. This is the time when those types of meetings are when the special levies are also usually determined.

If you enjoy these sessions, please like, share with family members and friends so that they could also learn and enjoy living in a Strata community. My name is Rochelle Castro here in Strata Life Podcast. See you next time.

Get ready to elevate your knowledge with Strata Life Podcast, a place where you should go to learn and get inspired on all matters Strata. Welcome back to Strata Life Podcast by Rochelle Castro. In this episode, I would like to discuss with you what to do if your apartment or unit is found to have building defects. There are three key steps that you could do to prepare in compelling the person who is liable to fix the defects. Number one is get an expert report. The expert report could be prepared by a building consultant. It's important that you give instructions to the building consultant to include in the expert report their findings on who is liable or what is causing the defects on the property and the damages to the property. The second step is to get an expert if it's the building consultant or quantity surveyor who could identify the quantum or how much it will cost to fix the defects and also identify in that second report what are the steps to fix the defects. These two key expert reports are the tools, the key tools that will allow you to pursue the person at fault in respect of the defects and the damages that resulted from those defects. And finally, number three, once you have those two tools, you can actually make a demand through yourself or if you prefer a construction and Strata lawyer to pursue and compel the person who is at fault to fix the defects and also the damages that has been caused to your property. Three key steps, crucial in with the two tools before you attack. It's really how I look at it because you need to be able to prove that the person you are making allegations is actually at fault and that experts have said that they are at fault. So those are the steps on what you should do if you find your apartment or unit defective. If you like the contents of the Strata Life podcast, please like, share with your friends so that you could spread the education so that you can better enjoy living in your Strata community. My name is Rochelle Castro. See you next time here in Strata Life.

Welcome back to Strata Life Podcast by Rochelle Castro. Today's session, I will be discussing your options in respect of How you would deal with decisions made by the committee where you do not agree with such, such decisions. In a strata community, the committee is empowered to make decisions on the daily operations of the strata community, and that requires an ordinary resolution.

What the committee is not empowered to do is make decisions that require a special or unanimous resolution. These types of resolutions are special and unanimous. would require that all the owners put in their votes. That said, going back to the power that's been given to the committee, if it requires an ordinary resolution, the committee can absolutely make that decision.

From time to time, there are owners or members of the Strata community who do not agree with such decisions, and what are your options? In respect of that type of situation, you could issue a complaint and address that to the Strata community. But the complaints must, in my view, have three elements.

Number one, what is your reason for disagreeing with the decision of the Strata community? What is your legal basis, if there is a legal basis? For the disagreement in the decision of the Strata community, and are there evidences that you could attach to your complaint? It's absolutely important that the three elements, your reasons, the basis, and supporting documents or evidence in respect of your complaint, are all part and parcel of that complaint that you would address the strata community to the committee itself so that they could take your complaint seriously.

In my view, without those three elements, it is highly likely that the committee would not address and or Take seriously your matter. So it takes preparation and the three elements to make sure that your complaint would get to the attention of the Strata community. So that's the topic for today in this episode, in respect of what are your options?

So, um, I'm going to be talking about how to make decisions in respect of a disagreement with a committee decision. Please share, like, and inform your friends about Strata Life podcast by Rochelle Castro so that they would know more and so that they can better enjoy and take care of living in a Strata community.

Until next time, my name is Rochelle Castro. See you here in strata life podcast.