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Body Corp anyone?

Discussion in 'Property Management' started by hammer, 15th Oct, 2015.

  1. hammer

    hammer Well-Known Member

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  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Bloody hell. Get a copy of it for us, would love to have a look at their budget.

    Maintaining swimming pool, play ground, tennis court, elevator, cyclone insurance all adds up I guess.
     
  3. House

    House Well-Known Member Premium Member

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    Bargain, way under the unit median!

    [​IMG]
     
  4. hammer

    hammer Well-Known Member

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    Sure but still that is batshit crazy even for Darwin.

    The price, rental estimates are also remenants of a time gone recently by....

    I wonder if the agent chose this listing or just got lumped with it?
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    What sort of Darwin agent wears a tie?
     
  6. neK

    neK Well-Known Member

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    Serious question.... what is in Darwin anyway?
    Why would you pay $800k for a unit over there?
    The part of darwin that looks like there are suburban streets is tiny!
     
  7. chylld

    chylld Well-Known Member

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    I inspected a Sydney 3/2/2 earlier this year with even higher body corp fees... right next to the train line too
     
  8. hammer

    hammer Well-Known Member

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    Work. Very low unemployment and until about a year ago a severe undersupply of housing as commodities went through the roof and the construction of a 36 billion dollar gas plant.

    Different story now though. What a difference a couple of years make...
     
  9. hammer

    hammer Well-Known Member

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  10. Matthew Savage

    Matthew Savage Active Member

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    For anything near water, or in a cyclone area (north QLD, NT) - yes.

    Some strata insurance premiums went up 1000% or more in the year following the most recent floods/cyclones. Insurance is generally around 30% of the administrative fund contribution. Multiply that premium by 10 and that's generally where the money goes.

    The other thing that pushes levies through the roof is schemes with a high level of service (e.g pool, elevator, caretaker, jetty, fire hydrants) and relatively low number of units amongst which to divide the cost.

    Luxury riverfront properties in Brisbane CBD with 10 or so apartments on their own floor = levies in excess of 20-43K per year.