What are strata levies?
Strata levies are payments owners are required by law to make for the building’s running costs. Strata levies are the most misunderstood issue when it comes to strata living. Apartment owners sometimes feel they are being taxed on apartment living, and as the definition of “levy” directly translates to “tax” or fine” it is easy […]
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Negotiating a better energy deal for your strata
Over the past 12 months, global energy prices have been soaring. Individually, as consumers, and collectively, as strata owners, we have felt the brunt. Globally, Russia’s invasion of Ukraine has crimped supplies of both coal and gas. Closer to home, the price impact has been compounded by coal-fired plants undergoing forced or planned maintenance As a […]
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Tips to Minimise Levies
How to keep your building levies in check Levies are often the cause of controversy and strata managers are frequently asked by owners corporations where costs can be cut. The bottom line is levies depend on the makeup of the individual building. However, an owners corporation that prioritises preventative maintenance, monitoring of energy consumption, and practices […]
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Early issue of levy notices
WHY AM I RECEIVING LEVY NOTICES SO EARLY? Levy notices are sent up to five weeks out from the due date. Section 83, Strata Schemes Management Act 2015 prescribes that the due date of a levy notice “must be at least 30 days after the notice is given”. Therefore in order to ensure that levy […]
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Guide to paying your strata levies
The guide to Paying Strata Levies in New South Wales The Strata Schemes Management Act 2015 NSW sets out the management of levies for an owners corporation. WHAT ARE STRATA LEVIES? Strata levies are payments owners must all make to cover the strata building’s running costs. Levies are set at each annual general meeting when […]
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Administration and Capital Works Funds
What can and can’t be paid from the administrative and capital works fund. The Strata Schemes Management Act NSW 2015 sets out the management of the two required funds of the owners corporation – the administration fund and the capital works fund. Owners corporation must at every annual general meeting must estimate how much money […]
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