Gimme all Your Strata Money

Perhaps the one thing that excites most people in Strataland is money.  How much the strata corporation has and needs? What owners should, want and can pay?  And, how well it's spent?


Invariably the 'right' answers to each of those questions are in direct conflict.  


Strata corporations could always do more than they are currently if they had more money.  Owners (of all kinds) would rather pay less and often have important competing needs for the money they have to pay strata corporations.  And, juggling strata cash flows from quarter to quarter, year to year and decade to decade is difficult to do.


But, the last 2 or 3 decades have seen strata corporation budgets and strata owner levy payments steadily increase.  And, that's a trend that will continue.


So, this article by Pamela Dittmer from the Chicago Tribune has some useful advice for committees to get better owner engagement and support for increases.  She suggests communicating better, transparency, following good advice, providing comparisons to similar properties and explaining committee reasoning for the increases.


I know that doing these things won't guarantee owner support but it's still way better than simply calling a meeting with levy increases and hoping everyone will accept them.

Francesco ...