Condo Smarts: Sorting out fact from fiction of strata’s annual budget

Dear Tony: Our strata sent out notice of the annual general meeting in February with three separate budgets.  One has no increases in fees and less than $10 a door going into our contingency fund each month.  The second has a modest five per cent increase in operational costs, and the third has a 25 per cent increase that puts almost $100 a month in the contingency fund. The footnote says we must vote on one of the budgets by majority vote, as no amendments are permitted at the meeting. What happens if we don’t approve any of the budgets?   Read the Q&A…………


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