- 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
- NAT: Large or Small – Could Strata Finance be the Solution? - The use of strata finance can assist strata properties to increase the value of their assets with upgrades to common areas and improvements to the building and surrounds. Strata finance is beneficial to all sized strata properties and projects on all scales.
- VIC: Bought an Apartment, Stitched Up by Owners Corporation Contracts - When buying a new apartment, the lot owner found that their owners corporation levies to run the building were grossly in excess of what they were told when they bought off-the-plan.
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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