Why do you need a sinking fund?
June 3, 2019One of the benefits of living in a Body Corporate is the fact that everyone contributes to the future upkeep of the property. This is done through a regular drip of savings. In Queensland, it is called a Sinking Fund; In New South Wales, it
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Why You Need A Sinking Fund Forecast – Qld
November 13, 2018One of the benefits of living in a Body Corporate is the fact that everyone contributes their fair share to the future upkeep of the property. This is done through a regular drip of savings. In Queensland, it is called a Sinking Fund; In New
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Budgeting for Repairs and Maintenance
June 14, 2016Buildings in strata schemes are no different to cars. A building’s value will constantly depreciate and will require money to be spent overhauling them at some stage. To combat this constant depreciation, the building, just like your car, also requires ongoing maintenance and repairs to
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Sinking Funds Explained
May 9, 2016What is a sinking fund? A body corporate’s sinking fund is effectively a deposit which exists to allow a body corporate to pay for repairs and maintenance of a building. The money in a sinking fund can be spent on several different things. Firstly, it
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Communicating With Committees
April 26, 2016One of the most critical elements of being a Resident Unit Manager is effective communication with committees. We covered this topic briefly in our article ‘Budgeting for Improvements’, but here we take a more in-depth look on how to effectively communicate with your committee. Committee
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Prioritising Budgets for Building Improvements
February 21, 2016In 2015 SSKB surveyed Resident Unit Managers to ask them what their top five challenges were. The answer came back – working with body corporate/owners corporation committees to approve budgets for building improvements. We asked Chris Nezmah, general manager of Star BMS for practical tips
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Better value for your maintenance spend!
July 2, 2013At Star BMS we specialise in delivering second to none service in facilities management, project management, cleaning, refurbishment, landscaping and architecture. Additionally, we want to ensure we offer the best advice to our clients, maximizing the value of their strata communities. A lot of this
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Why Bodies Corporate should have a completed Sinking Fund Forecast Completed?
May 31, 2013Sinking Funds Part 2. In our last newsletter we advised ‘when’ the best time to reduce a Bodies Corporate sinking fund levy was. This time, we want expand on the topic further and demonstrate the importance of ‘why’ your body corporate needs to have
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Body corporate maintenance: how you can save money
December 6, 2012Keeping your common property well maintained has numerous benefits, some more obvious than others. It is certainly more pleasant to live in a property whose gardens and grounds are cared for and whose internal common parts are clean and tidy. Bringing common property in to
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