SA lot owners are wondering why their levies have increased. Tony Johnson, Stratarama answers their queries.
Question: Why did my strata levies go up over the last two months by over $50 per quarter?
Answer: Presumably at the last AGM the group determined that there were not enough funds being raised and chose to raise more.
The short answer is we don’t know why. It depends on what the group agreed to but presumably at the last AGM the group determined that there were not enough funds being raised and chose to raise more funds, whether that be for future projects, a shortage of funds, or simply rising costs. The minutes of the AGM will point you in the right direction.
Is your building self managed, professionally managed, when was the AGM, do they have the minutes/ did you attend?
This post appears in Strata News #392.
Have a question about why your levies have increased or something to add to the article? Leave a comment below.
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This article is not intended to be personal advice and you should not rely on it as a substitute for any form of advice.
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