A lot of Body Corporate unit owners are more than a little curious as to how their levies are spent. The table below shows the average levy allotments by percentage for 15-25 unit buildings without swimming pools; that are currently being managed by the Body Corporate Headquarters. The first two columns are figures of competitors in the capital cities and for Gold Coast, the third are BCHQ’s numbers. The actual amount spent is called the total administrative fund. The amount from the levies that isn’t spent goes into a sinking fund that is set aside for building repairs. Here are the figures:
We have taken out comparative figures of 1525 lot buildings without swimming pools that we manage and listed the main costs of running the building as a percentage of the total Administrative Fund Expenses.
Average%
Competitors%
Experience %
BCHQ manages to save its clients an average of 53% of the levies they pay monthly. That means that if a building is ever in need of some repairs or even a bit of sprucing up, unit owners can draw on those savings instead of passing around a hat.
NOTE
In most individual cases, you will find that the numbers are usually not near the average. Levy spending is decided upon by unit owners, and is thus difficult to predict.