Why You Need A Sinking Fund Forecast – Qld

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One 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

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Buildings 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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Star BMS explains how strata, body corporate sinking funds work.

Sinking Funds Explained

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What 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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Effective communication with your committee is a must Star BMS gives tips here.

Communicating With Committees

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One 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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Better value for your maintenance spend!

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At 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?

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  Sinking 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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sinking fund

When should you reduce your sinking fund levies?

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A good sinking fund forecast gives a body corporate confidence to plan its capital expenditure over time knowing that the funds will be there when items need to be repaired or replaced. However, there are times when the sinking fund itself can get so large

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Body corporate maintenance

Body corporate maintenance: how you can save money

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Keeping 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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4 Keys To Managing Your Premises

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The different demands of managing property are often at odds. Indeed, many disputes on a body corporate committee are between one side that wants to invest to secure asset value and the other which wants to keep building costs down. Ultimately, the majority rules but

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3 Ways To Manage Your Body Corporate

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It is important to understand the different ways in which a body corporate can be managed in order to make the best decision for your strata community. Facilities Management This can be the most cost-effective way to manage a building as the facilities manager often

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