Why it pays to take the time to read Strata Meeting Minutes

27-Jul-2016

They may not be the most riveting reads but it really is important to read the minutes of your strata meetings if you own a strata property.

While the number of agenda items alone may run over several pages, it is imperative that you invest the time to read through the entire document. Why? Because not only do the minutes include important financial aspects of your strata plan, including budgets and future levy contributions that you will need to pay, but it also contains information about the building’s insurances and any building repairs that are required.

Ignorance is not bliss when it comes to strata property ownership. Failure to be aware of what is going on could cost you in additional levy contributions that you haven’t budgeted for.