Over the last two years we have all been subjected to significant consecutive increases in administrative levies, an additional sinking fund levy being added, multiple catch-up levies, and adjustments resulting from exceeding budgeted allowances. This is at a time of hyperinflation and soaring cost of living.

There are a significant number of residents within the building who feel these discretional fee increases are unreasonable, especially for a building that is only three years old. When new/younger properties are purchased, a key benefit is lessened maintenance costs comparative to older/aging buildings requiring more renewal and maintenance expenses.

However, we are all over-conservatively contributing to a maintenance plan with a 15+ year horizon. The fund's balance is currently over than $23,000 following the first year’s contributions, with less than $5,000 budgeted in the coming year for non-critical expenses that can easily be absorbed in the admin fund. Yet, a further $24,300 levy was struck for this financial year for all lot ownersto contribute to this fund.

On average, all residents pay ~$800 per year in addition to the already exorbitant admin levy, which is not required by law, and ends up in a non-interest bearing account for a rainy day. Statistically very few residents will benefit from these contributions unless you plan to keep the property for 10-20+ years, and even then only in the unlikely event of a major equipment breakdown or maintenance event not covered by the already exorbitant insurance premium.

Whilst it is wise to plan ahead, many owners will not reap the rewards of this excessive maintenance allowance (among other fees being increased). The fee increases will also hurt any owner looking to sell their property, with much lower fees offered at other apartments listed for sale in the area.

A significant number of owners feel the introduction of new and increased fees are more clearly aligned to benefit residents who do not intended to sell in future. The questionable methods in the way key decision-making forums are scheduled and conducted also benefits some owners more than others. Recent events at the June 2023 AGM have also highlighted procedural bias in the establishment of the new committee, with some nominated committee members - who want to revisit these charges - not elected to voice the concerns of many residents.

There are 30 lot owners here and each one has an opportunity to put their views forward. This has not occured for three years and won't again in 2023/24 as things currently stand. This petition is twofold: 1) an opportunity for members to vote on a committee of up to 12 people - permitted by owners corporation legislation and even encouraged by Consumer Affairs, and 2) to defer contributions to the sinking fund. The capping of the committee at nine people is unjustified, especially since 4 current committee members collectively held 44% of the total voting power through 7 additional proxy votes.

The signatures of 16 lot owners are required to see this stance revisited, and to reduce our levies to reasonable levels. We encourage you to sign it, one signature per lot owner, to help ensure all views are heard.