How much are your body corporate fees? I have a unit in a group of 10. $400 a year pays for building insurance and lawn mowing of common lawn areas. ( in Vic ). I have noticed similar units are up to $1000 and even $1500 for body corp fees . These are units with nothing special like gyms or lifts or pools etc. I wonder what the average min and average max is?
It varies widely – if the BC is self managed, occupants do the gardens/lawns, low sinking fund contributions etc would keep levies down however there are public risk/workers comp issues in this approach.
Strata fees generally cover building/PL insurance, lawn maintenance, common area costs etc as well as the sinking fund (ie maintenance levy). A well managed strata complex has a healthy sinking fund indicating that the BC is actively maintaining the property.