What rates and fees do I have to pay for strata?

Content

Social Shares

Related Content

Strata Hub

In our Q&A video series Michael Vumbaca, General Manager at Jamesons Strata discusses rates and fees related to strata.

Video Transcript

Every single strata management company structures their rates and fees a little bit differently. Typically speaking most will charge a base monthly fee that will cover a base monthly fee that will cover a set number of services that they provide. They will also charge something known as additional services or Schedule B fees which are paid for additional services that they provide throughout the year.

Some strata management companies will offer to bundle all fees throughout the course of the year, and I would strongly suggest that if you do go down that path that you would very closely look at all of the things that they are proposing to include in those fees and charges to make sure that you’re not stung with things that you weren’t aware of when you first signed on.

It’s also important to ask if they keep what’s known as the insurance commission for your insurance because some strata managers keep it and some of them give it back. This can amount to a saving of anywhere between $1000-$5000 for your scheme depending on how the strata management company does it.

Want to upgrade your Strata Management? Get in touch today

Request a Free Quote

Relevant Articles

If you have anything to do with strata schemes in NSW, you’ll know the term ‘special levy’ pops up from

Picture of Christina Han
Christina Han

Feb 15, 2024

Let’s face it – when we hear the words ‘strata levy’ or ‘strata fees,’ they often conjure up images of

Picture of Paul Culbi
Paul Culbi

Jan 22, 2024

Are you mulling over a question about your strata fees, but unsure of how or who to ask about it?

Picture of Jackie Booth
Jackie Booth

May 17, 2021

To understand what the capital works fund (also known as a sinking fund) is, it’s important to first clarify what

Picture of Jackie Booth
Jackie Booth

Oct 14, 2019

Talk to Jamesons about your needs today

Changing strata managers doesn’t have to be difficult. Get in touch with our team today and learn how our
strata management services could improve the value and enjoyment of your jointly-owned property.

What are you looking for?