Strata in deficit for admin fund - building 8 years old
update: checked the strata report - I think there there are 26 lots divided into 14 units plus 7 commercial- much less than the 40* I'm looking to buy an apartment for the first time, and I'm unfamiliar with strata management. The building is 8 years old with ~40 units and 7 small commercial shops at street level. There is a special levy - I plan to negotiate this off the price. More concerned about the strata admin fund that shows it has been in deficit for the past 3 years. This year the admin fund is in deficit for $7k. There is a $6.9k payment to the "previous strata manager" . Capital works fund has just 0.5%/insurance value of the building.
Overall strata seems expensive - for a 3bed unit the strata is ~$4k per quarter but REA told me it used to be $1.5k and they are just getting through some short term issues. I plan to live here for at least 10 years, the location is perfect and I like the apartment layout. Will this storm pass? What's your read on this?