- Picture this: calm evening, trade winds, and a sunset reflecting off a perfectly kept condo pool. It looks like pure paradise – and it is – but that view is powered by something unglamorous: strata fees.
- Pool cleaning and chemicals
- Pump, filters and equipment maintenance
- Lighting and common-area electricity
- Landscaping around the pool and walkways
- Insurance and long-term reserve funds for bigger repairs That “resort feeling” doesn’t exist without a strata that’s actually funding the work.
- Is there a real reserve fund, or does everyone panic and pay when something breaks?
- When were the last big jobs done – roof, painting, paving, pool resurfacing?
- Are they realistically budgeting for storms, rising insurance and an aging building? A building that undercharges today usually comes with special levies and surprise invoices tomorrow. That’s when owners discover the true cost of “cheap” strata.
- Ask for the last 2–3 years of strata budgets and financial statements.
- Check the reserve fund balance – does it match the age/size of the property?
- Ask if there have been any special levies in the last 5 years.
- Walk the common areas: tiles, paint, railings, lighting – does it look cared for or patched together?
