Developer Responsibilities for Strata Levies in Off-the-Plan Sales
When developers are selling off the plan, what is their responsibility to ensure they put forward real numbers for strata levies? We often hear that, to generate sales, developers try to minimise strata levies. Once the building is occupied, funds are below what is required to properly maintain the building and this causes additional need to raise funds to manage the building. This also hugely impacts warranties.