Our body corporate needs to carry out remedial works and additional funds from owners are needed. Is the total amount divided by number or size of lots?
Our body corporate is authorising remedial works and maintenance and requires additional funds from owners due to not enough funds in the sinking fund. Is the amount required divided equally between the number of units OR should the amount be divided by the size of the units eg 1 bedroom and 2 bedroom etc?
The total should be divided by the unit entitlements ascribed to each lot.
The total should be divided by the unit entitlements ascribed to each lot. Effectively this is the second method you are suggesting. You can check the entitlements on your CMS and if you have any questions on the split you should check with your body corporate manager.
William Marquand Tower Body Corporate E: willmarquand@towerbodycorporate.com.au P: 07 5609 4924
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Will Marquand joined the Tower team as a General Manager and Senior Strata manager in 2020. He has widespread experience across all forms of commercial, industrial and residential schemes. He believes in proactive, ethical strata management and hopes to provide Tower’s customers with the knowledge and support required to take their schemes forward into the next generation of body corporate management. Will has experience working across residential, commercial and industrial schemes. A former journalist and teacher, Will's excellent communication skills help Tower grow its expanding business. William is a regular contributor to LookUpStrata.
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