Educational Video: Understanding Strata Levies
Strata levies, also known as strata fees, are essential contributions made by owners to finance the day-to-day operations and maintenance of a strata scheme. Determined at the Annual General Meeting (AGM) with the approval of budgets for the forthcoming year, these levies cover expenses related to the common property and can include administrative costs and funds for future capital works. Typically issued quarterly, strata levies ensure the smooth running and upkeep of the building, contributing to a harmonious and well-maintained living environment for all residents.
Video brought to you by Strata Community Association (SCA) NSW, the peak body for the strata sector in New South Wales. SCA NSW represents over 3,000 strata managers, principals and suppliers in the sector.
