NSW: Q&A Special Levies, Levy Payments and Overdue Levies

  Question: One lot owner is refusing to pay levies. What is the correct/recommended procedure to pursue debt recovery and in what order should those steps be taken? I am the “Honorary Administrator” of a self-managing strata scheme of four townhouses. We may need to take levy recovery action against one owner who is refusing…

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NSW: Q&A Special Levies, Levy Payments and Overdue Levies

  Question: We did not receive a levy invoice or a notice of arrears. The next period notice invoice for levies, strata is charging interest and there is a notice of arrears fee. Do we have to pay the arrears notice fee and interest if we never received the invoice? Answer: It depends whether you…

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NSW: Q&A Capital Works Fund – What Do We Need To Do Now?

  Question: Does the Owners Corporation have to pay sufficient money from levies into the Capital Works Fund? I have just discovered no money has been paid into the Capital Works Fund where I live for the last 3 years. Around 240 people live in the building. Answer: Yes, the Owners Corporation must pay funds…

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Q&A: Interest and discounts on levies

  Question: I was just reading today’s newsletter and thought i would let you know an avenue i took for charges being illegally placed onto my levy statement, re the question posted in the 214 newsletter: Question: After calling our new strata management company for information, I have personally been charged a sum. Until the…

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NSW: Q&A Capital Works Fund – What Do We Need To Do Now?

  Question: Is there a formula for setting strata levies to cover scheduled capital works and avoid a shortfall? We have identified a situation where projected levies will result in a shortfall. Answer: There is no accepted ratio for the determination of funds to be raised. There is no set “prudent” amount or accepted ratio…

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Common mistakes people new to strata living make (NSW)

Jimmy T from the Flat-Chat website posted this informative article covering typical mistakes made by people who are new to strata living. The top 10 Forgetting about Strata Levies as part of your budget Not getting involved with the management of the strata building Not complaining about noise in the building Assuming, and blindly believing…

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Changes to Fire and Emergency Services Levy (FESL)

This Flat Chat article in the Domain explains changes in the way the so-called Fire and Emergency Services Levy (FESL) is raised. From 1 July 2017, the annual fire services levy will be collected via council rates rather than via buildings insurance. This will ensure the FESL will be spread more evenly across a broader slice of…

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Q&A: How organise strata roof repair?

We provided another response to a LookUpStrata readers question. The reader recently moved into a strata building, and wanted to know how to go about organising a roof repair with limited funds available in the sinking fund. In summary, the roof is common property and as such a repair should be requested by the Executive Committee and…

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Q&A: Is there a limit regarding strata levy increases?

This is one from the archives: a LookUpStrata reader wanted to understand whether there are any restrictions regarding the increase of strata levies to boost a sinking fund, and whether there is a limit to the frequency at which special levies are raised. Read the full question, and our detailed response by following this link.

Why a good strata manager matters

Jimmy Thomson from the Flat-Chat website wrote a great post on the importance of good strata managers. “Fair Trading … received 800 enquiries about strata managers and 48 official complaints last financial year – a rise of 50 percent on 2014-2015.” “Strata schemes can be cash cows where, often, investors vote for the lowest cost option…

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Are low strata levies always a good thing?

In a previous article we wrote, titled Strata Fees, Strata Levies, Management Fees. What’s the difference?, we explained that the amount you pay in strata levies are typically dependent on three factors: the location and quality of your building and the facilities offered. Levies can be kept artificially low in a number of ways. For example,…

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Special Levies, who pays? Buyer or seller?

In a previous article, we explained what Special Levies are and how they are calculated. Please hit this link if you would like to refresh your memory. But who is responsible to pay the Special Levies when purchasing an apartment? Is it the Vendor or the Purchaser? This article, explains the ins & outs. Even Though it…

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