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A lot of the increase in strata fees is due to the depreciation report including the highly overpriced engineering study and various repairs that money is being set aside for as a result of that study.
Please note that many residential strata property managers have been telling their strata councils that this depreciation report is 'mandatory' due to new legislation. This is false. The depreciation report, engineering studies, and the requisite contingency reserve funds to build around... [¸ü¶à...]