Question: What interest can a WA strata company charge owners for late utilities bills? Are these recognised an overdue levy?
Answer: 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.
This post appears in Strata News #785.
Jamie Horner Empire Estate Agents E: JHorner@empireestateagents.com P: (08) 9262 0400
