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The building's number is not your number.
A remedial quote arrives at a general meeting as one large figure and everyone in the room quietly does the same sum in their head. This does it properly: by unit entitlement, after the capital works fund, and spread across however many instalments the levy is raised in.
Use the figure on the quote or the engineer's cost plan. If you have a range, put the top of it in first and see how it lands.
What the scheme already holds and is willing to put toward this. The shortfall is what has to be raised as a special levy. Put zero if the fund is not being touched.
Both numbers are on your strata plan and on every levy notice. Entitlements are rarely equal, so an even split is only a rough check.
How the owners corporation resolves to collect it. Staging the works usually stages the levy with it.
Why the total lands harder than it needs to.
Most owners meet a remedial project as a single number with no denominator attached.
A million dollar facade repair on a twenty six lot building is not a million dollar problem for any one owner. It is closer to forty thousand, and if the capital works fund carries part of it and the levy is raised across four quarters, it is a few thousand a quarter. That is still real money. It is a very different conversation from the one that happens when the total is the only figure on the page.
It also works the other way. If your entitlement is well above average, your share is bigger than the room assumes, and it is worth knowing that before you vote rather than after.
What we would want you to ask next.
Before the number matters, three things about it matter more. Is the scope essential work or does it include items that could be staged. Is the quantity confirmed or provisional, because remedial extent is discovered as the work opens up rather than known at the start. And is the figure a single number or a range, because on this kind of work a single number is usually optimistic.
We are happy to look over a scope and a quote and tell you what we think of it, whether or not the work ends up with us.
Send us the scope and we will tell you what we think.
No charge, and no obligation to use us.
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