- What is included in strata levies?
- What are strata fees?
- What can be included in strata fees?
- Are strata levies the same as body corporate fees?
Check your states tab for the latest information about Strata Levies. New information and links are added regularly. Be sure to check back to be kept up-to-date.
According to Strata Community Association (NSW), here are the definitions of:
- Levy: Levies are amounts paid into a trust account so that the scheme can fund and carry out its duties. Levies are the amounts that owners are bound by legislation to pay to the administrative fund and capital works to enable the communal management of the scheme. They are determined at the AGM via the approval of a budget and the decision of payment due dates. Each owner’s portion is determined by the lot unit entitlement as a proportion of the aggregate unit entitlement.
- Levy Arrears: The owner is in arrears if the amount owed by them has not been received into the trust account by the due date.
If you have enjoyed this topic page, discover more great information in our other Strata Topics covered.
Leanne Habib, Premium Strata
Question: How do I get the executive to acknowledge obligations under the new legislation – have a 10 year plan, have it professionally costed, take steps to raise the required funds and commence overdue works?
Most Recent Strata Levies Articles
- NSW: Why it is Important to Pay your Strata Levies on Time: Consequences for Late or Non-Payment - There is a strict statutory obligation for lot owners to pay and pay on time. If contributions are not paid on time or at all, the consequences can be expensive and severe.
- VIC: Recovering Hearings on Paper at VCAT - The recent changes to fee recovery hearings in VCAT is progressive and will provide a time and cost-efficient way for owners corporation stakeholders in receiving VCAT’s decision on these types of matters.
Our articles and Q&As about Your Strata Levies have been arranged by State
What are Strata Levies?
For a detailed explaination, take a look at this video by Michael Ferrier, Eyeon Property Inspections.
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