Hi folks! Been a long time follower in Somersoft. Finally decided to join PropertyChat to share some thoughts and ideas with you all. A bit about myself: we have 1 PPOR and 2 IPs. The first IP was our first home. We then moved into a new house and rented the old house out. The second IP is a waterfront apartment in Sydney Inner West that we bought 5 years ago. We are on our way to a third IP when we move out from this house into a new one we're building in Sydney's North West. Our approach to property investing is quite conservative: 1. Our IPs are long term investment for us. They are a source of income for now and for our retirement. 2. We play for keeps. We plan to hold our IPs as long as possible aiming not only for healthy capital growth, but possibly passing them on to our kids. 3. We like good areas with excellent access to public transport & great amenities nearby, and also those earmarked for future infrastructure projects. 4. Both IPs are within 1 hour drive to where we live. 5. Both IPs are positively geared. We are pretty happy with the way things are going, however at $1000 per quarter, the strata fees for the apartment is almost 15% of the rental income from it. What do you guys think about high strata fees for IPs? Are they justifiable in the long run? We bought it for $470K in 2010 and it's now worth around $820K in the current market. Would appreciate your thoughts on this. Thank you!