$2.7million Strata repairs...!

Discussion in 'Repairs & Maintenance' started by Rich2011, 21st Oct, 2015.

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  1. Gockie

    Gockie Life is good ☺️ Premium Member

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    So this is the important bit, am I right?
     
    Gockie, 28th Dec, 2015
    #41
  2. Rich2011

    Rich2011 Well-Known Member

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    No idea, best to ask your accountant :rolleyes:
     
    Rich2011, 28th Dec, 2015
    #42
  3. dabbler

    dabbler Well-Known Member

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    Ask your accountant or ATO, while the special levy may not be deductible (the levy raises money), if your a part owner for the building & you should be able to claim your part of repairs or capital costs once you have paid them.
     
    Last edited: 28th Dec, 2015
    dabbler, 28th Dec, 2015
    #43
  4. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Greek Street in Glebe, I was rushing in to snap up this "bargain" ...ever wondered why the units were cheap of late, lucky I had a great Solictor in that area who knew immediately there was flood/water damage in that apartment building ! :oops:
     
    Darlinghurst Boy, 29th Dec, 2015
    #44
    #house, ellejay and Gockie like this.
  5. LCK

    LCK Active Member

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    I looked at a place where there was an onsite manager doing the repairs and gardens etc.. Long story short he was doing a bad job and body corp wanted to get rid of him and took him to court.. They ended having to pay him out of his contract to the sum of $400000 to get rid of him.. Body corp took out a loan over 15 years
     
    LCK, 24th Jan, 2016
    #45
  6. See Change

    See Change Well-Known Member

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    But it depends on how thorough the person taking the minutes is .

    minutes recorded as

    The directors discussed upcoming maintenance issues and the need to develop a maintanence schedule ..

    Could included discussions on window replacements upto around 150 k , fire plan , regrouting the building etc total up to 500 k ...

    Cliff
     
    See Change, 24th Jan, 2016
    #46
    Terry_w likes this.
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