prozac
Senior Member
- Joined
- Jan 7, 2010
- Posts
- 6,044
That is not a great deal in the scheme of things but I understand your questioning of their propriety. I am surprised that the strata body is permitted to borrow money on behalf of all lot owners and I wonder about the legality of doing so. In that instance I would have told them they can do what they want but I am borrowing my contribution from my bank and you will not charge me interest. The more I think about it the more I think it unusual.The special levy in our case would have been $35,000. Others would pay more. $750,000 all up amongst 44 apartments. It was actually the manner in which they chose the apartments to repair that totally CMO. Of the 6 Management Committee at the time, 5 of them got theirs done. Only another 5 of the other 39 also had theirs done. There is no evidence as to their selection process other than a 2019 report in which our apartment was considered needing repair. They ignored it and did their own thing. In the 10 years there was not one meeting. It's all done by randomly chaotic emails. We are likely to go to the Magistrates Court next year to seek an independent review and manager. I was yelled at by the Corporate Management at the recent AGM for questioning the process. I am on the Management Committee now so I can see first hand what is happening. Nothing is happening. But at least I now have first hand evidence. There is one other person fighting for this, he is a legend and gets things done. He's already met with the relevant Minister. The MC hate him. Except me.
15 yrs ago we needed to borrow $72,000 (our entitlement amount) when we updated the buildings in our complex at a cost of around $2.5m. We went to the bank and took out a loan. There was never a suggestion the BC could or would borrow the money.