What if People Do not Pay their Strata Levies??

The Owners Corpoaration can impose a charge of 10% interest on the outstanding Levies if payment, is not received within one month after the due date.

The Owners Corporation can also enlist the services of a Debt recovery service through the Local Court.

A tip; if you are a new owner of an Apartment, Townhouse or Commercial Strata or about to settle on a Strata Property. Please ensure your Conveyancer/ Solicitor has the "Correct Address" for service of the Strata Levy Notices on the Section 118 Notices AFTER Settlement.

There have been cases reported in our industry that new owners of Apartments have not received a Levy Statement for 2 years after Settlement.

The Interest clocked up on the Levies was large and scary; plus the costs the Strata Manager for enlisting a Debt Recovery firm and their assocaited costs.

Another Tip is also to include your telephone number on the Section 118 Notices tender to the Strata Manager after Settlement; if things go wrong; Strata Manager "only needs to pick up the Phone" to rectify any issues.

Look its all about communication: you should as a matter courtesy also introduce yourself to the Stata Manager after Settlement via the telephone and confirm the details from the Conveyancer and the Conveyancer also needs to track the remittance advice for the Setion 118 Notice after Settlement and not move onto the next file.

Trust this helps and welcome your comments!!