What interest can a WA strata company charge owners for late utility bills? Are these recognised as an overdue levy?
The strata company can apply an interest rate of 11% simple interest per year to an unpaid contribution.
The strata company can apply an interest rate of 11% simple interest per year to an unpaid contribution. A utility bill is a contribution and if unpaid on the due date under the Strata Titles Act Section 100 (4), (5) & (6) of the Act and Regulation 78 apply. Regulation 78 states:
For the purposes of section 100(4)(b), the rate of simple interest specified is 11% per annum.
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Jamie Horner is the Licensee of Empire Estate Agents, Licensed in 1997 she has over 25 years’ experience in Strata and Property Management. A trainer at the Real Estate Institute of WA and member of the REIWA Strata Committee and a firm believer in continuous education and building better ‘communities’ in strata and property. Jamie has a Masters Degree in Property, a Degree in Business/Commerce, a Diploma in Management (Real Estate) and a Cert IV in Strata Community Management and Cert IV in Training and Assessment and passion for property. Jamie is a regular contributor to LookUpStrata.
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