Levy and body corporate

[Fuma]

I think I'm paying too much on levy than what I'm getting in return.
I just joined the body corporate as a trustee, but looking at the financial statements, I think I'm paying too much on levy.

Can we change the administartion body (in this Huurkor in PTA)? I still have to investigate the financial statement to see if my money is being spent accordingly.
Most of the owners on these flats don't live there, so it's impossible to have a meeting with everyone to make certain decisions.

I feel I can pay almost half of what I'm paying now, if we chose a different admin co.

I'm doing some research on it.

 

[Kilgore_Trout_Redux]

This sort of thing is what the AGM is there for.

 

[Fuma]

This sort of thing is what the AGM is there for.

Since I'm usually the only person in the meeting, I will decide to change then administrators.

 

[Nerfherder]

I'm in the same situation... we just dumped our managing agent and saved ourselves about R10k pm. There are other savings but will take time.

You don't need buy in from all the owners to change the agent, the BC has the power to do so.

 

[Frankie]

I also believe that the levies are too high on two of my properties - some of the owners like to accumulate a large reserve, larger than I'd like seeing as it's only investment property for me and I don't see any benifit of this large surplus coming my way.

Just before individual owners of sectional title property became liable for the rates themselves, I asked what portion of my levies were used for rates - when the change came about the levies were only reduced by half the amount they previously quoted was my portion used for rates.

This year will be the crux for me and the body corporates - I will just refuse an exorbitant increase which they are so renown for.