Unnecessary And Unwelcome Cost Or A Hidden Saving?

BODY CORPORATE LEVIES

Would you be surprised to learn that an average weekly Body Corp fee in Main Beach is just $173.00 per week?

To calculate this we have used our last 100 sales which includes everything from blocks of 6 older style units, apartments in the boutique 3 storey walk-up buildings, through to the one apartment per floor and penthouses with full resort style facilities.

The oft-maligned body corporate levy includes maintenance of grounds, maintenance and upkeep of facilities, all communal areas including the foyers, lifts, hallways, roof, drainage, fences. It includes insurances of the building and public liability for common areas, sometimes includes onsite manager fees and incidentals like pool maintenance, lawn mowing and a multitude of incidentals. It also usually covers the renovation and replacement of almost every part of the building via the sinking fund component of the levy. Add all that up and compare it to those costs when maintaining a house and, in a body corporate situation, you don’t have the stress as someone else does it for you!

You might also be interested to know that the same calculation as at 15 May 2015 was $152.29 weekly, and again, as at 17 January 2019 it was $149.26.

It can be perceived that a lot of body corporates in Main Beach, and indeed all over the Coast were a little mis-managed in the early stages and levies may have been too light on to start with in their formative years. Through the last decade or so lot owners have had to do some catching up with making sure the sinking fund had adequate funds to do what they needed to do. Most have recovered from this period and levies of some schemes have reduced. No doubt, the cost of living increases in recent times are going to have an effect.

Apartment living is a lifestyle and not for everyone, however a Body Corp levy facilitates that very lifestyle.

Posted By claire-branson

Updated : 6th October 2022 | Words : 325 | Views : 1465