› Forums › Levies and Unit Entitlements › Can we approve a “just in case” special levy? › Current Page
21/08/2026 at 12:55 pm
#85059
Jon P
Use a Strata Loan, they are a line of credit that is only chargeable when used or “drawn down” .
I am a strata manager, one of my building was undergoing interior refurbishment works, the OC had sufficient funds for the work but did not have enough for any large cost variations so the OC applied for a Strata “loan” from one of the Strata Finance companies i.e. Lannock Strata Finance. The OC applied for $500k, they paid a account set up fee (approx. $600). The funds are available for use but do not incur any charges or interest until they are used. Each drawdown is then considered to be a loan and must be paid back.