Quote:
Originally Posted by Tapioca
Well, another consideration is that most condo owners will sell their unit at some point and want to ensure that their building is well-maintained so they can sell their units more easily down the road. If you vote down an increase, you just defer what is usually essential maintenance to future years.
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Flip side is that if you are currently selling your condo, a lower strata fee is more enticing. One of the past strata members graduated from school and was about to put their place up for sale and was very vocal against raising the strata fee's in the strata meetings.
On a seperate note, I am not bashing anyone for wanting to buy a brand new condo, but my experience has shown it doesn't make sense in the long run if you plan on living there and even worse if you are renting it out. In the first few years, everything is fine and dandy, but wait till it hits the 5 year mark. That is when things start to break and issues appear and then wait and see how the strata attempts to get warrenty coverage on these issues. The new home 2/5/10 year warranty is garbage. Try collecting from a builder that goes "bankrupt".
Our strata was trying to do due dilligence and was going over the building just before the 5 year mark. Between then and now, which has only been 3 years, many new "issues" have popped up and the general concensus is just pay the $$$ and get it fixed now instead of sueing the builder or trying to get the new home warranty to pay for the fix.