Do we have to have monetary funds?
The strata company is responsible for setting up an administrative and (if agreed) a sinking fund and can raise levies from owners to pay for the expenses of running the strata scheme.

The strata company keeps putting up the levies. What can I do?
Levies are decided at general meetings and must be discussed and accepted by a vote of the owners. You can vote against the increase or put up a motion for a different levy amount if you wish. Levies are normally only increased if there is a need to do new works or there are additional expenses. Ask why the increase is being made if you are not sure.

I did not get a levy notice so I have not paid anything for ages. Is this a problem?
Your levies must be paid whether or not you receive a notice. Unpaid levies could mean you will not be able to vote at meetings. Make sure your current address is on the strata roll so you can receive notices of both levies and meetings. You can pay your levies any time up until a meeting starts, in order to be financial and therefore eligible to vote.

What can we do when people do not pay their levies?
The strata company can impose an interest charge (currently 15%) for levies not paid by their due date. The strata company can also take debt recovery action through the local court.

Disclaimer - The information provided is based on the Strata Titles Act 1985 and general industry practice.  However, the information is general in nature only and most scenarios could have an alternative solution. This information in no way constitutes any form of legal advice whatsoever.  Blackburne Property Group, its Directors or Employees do not give any warranty or guarantees as to the accuracy or reliability of any information contained in these scenarios.  Blackburne Property Group recommends that you eek advice from your own strata industry specialist or legal advisors if you wish to have specific advice in relation to your own circumstances.