Lobby Renovation or Reserve Fund
Respond to a strata council survey on whether a maintenance fee increase should pay for a lobby renovation or be added to the contingency reserve for future roof repairs.
Maintenance Fee Allocation Survey
Read the following information.
Maintenance Fee Allocation Survey
The strata council of a residential building in New Westminster is surveying owners about how to use this year's maintenance fee increase, which will raise about forty thousand dollars. Some owners want the money spent on a full lobby renovation, arguing that the worn entrance lowers the value of every unit and that repairs there keep being postponed. Others want it added to the contingency reserve, since the roof is expected to need replacement within eight years and a special assessment would cost each owner far more.
3 sample responses
Choose the option that you prefer. Why do you prefer your choice? Explain the reasons for your choice. Write about 150-200 words.
Option A:
The maintenance fee increase should pay for a full renovation of the building lobby.
Option B:
The maintenance fee increase should be added to the contingency reserve for future roof repairs.