Interest Charges on Overdue Strata Fees
I don’t believe the recovery costs for my overdue levies are reasonable.
Under the body corporate manager’s (BCM) “internal debt recovery” procedures, I was charged a debt recovery fee of $50 for being 15 days overdue with my levy payments. The BCM sent a “reminder contribution notice”. I paid my levies and included the 2.5% penalty for my late payment, but not the debt recovery costs, as I did not believe it should have been charged according to the debt management item in our AGM.