Old Orchards Estate Owners Say No to 28% Increase of Levies and Yes to 10%

 

Owners of Old Orchard Estate Request that the proposed 28% increase in levies be reduced to 10%.

Reasons;

We are of the idea that the interest of the developer and that of the owners differ immensely and strongly refuse the 28% increase and are proposing 10% which is more considerate taking into consideration the good standing of Old Orchards Estate Body Corporate; and

Majority of the owners who managed to attend the virtual meeting voted against the 28% increase in the AGM but were out voted by the Chairperson of the Body Corporate who had an additional 49 voters poxy of the developer paluma; and

The Current financial affairs of the Old Orchards Estate are in good standing and there is nothing detrimental to cause the Body Corporate to increase the levies by 28%; and

The current inflation of the economy is the highest it has ever been and this will definitely affect the livelihood of all owners of Old Orchards Estate and an increase in levies may result in owners not making regular payments of levies as they are currently doing; and

We are aware of all new financial implications that the Body Corporate will have this coming financial year, hence we propose a 10% increase will be able to sustain the day to day and unforeseen costs that may occur.

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