Current Page

[Jimmy-T]

Forum: Should you sign a new deal on an old SCA contract, taxation management fees, subsidising unpaid levies

[See the full post at: Forum: What’s the deal with new SCA contracts?]

If you want to be alerted when anyone replies to your posts or responds to this topic, please register and login, then you will be able to subscribe to the topic. The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers. NB: Longer threads may spill over to additional pages - look for the numbers on the bottom right, under the last post.

Topic

[optusJo]

No to an old SCA Contract
Subsidising unpaid levies – maybe … a loan against the property?
Taxation managment fees – maybe if there is a note against them explainind why from the SM or Chair

[Jimmy-T]

optusJo wrote:

Subsidising unpaid levies – maybe … a loan against the property?

We’re talking about people who are struggling to meet their current financial commitments. Another high interest loan probably isn’t going to help much.

If you want to be alerted when anyone replies to your posts or responds to this topic, please register and login, then you will be able to subscribe to the topic. The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers. NB: Longer threads may spill over to additional pages - look for the numbers on the bottom right, under the last post.

[optusJo]

I was just thinking of the levies only and assumed there is no primary loan. Not to be able to afford the levies would be awful even at a home rate loan.

 

[VicRes]

When an owner doesn’t pay their fees then it has the potential to adversely affect other owners.

The expenses continue and need to be paid. Even if there is extra money being put away (aside from the sinking fund) unforeseen expenses soon consume this money.

So, if one owner is behind on their levies then the other owners have to pay additional levies to keep the OC financial leading to even more unpaid levies.

A vicious circle. I’m not sure of the answer but being proactive in recovering overdue fees is essential. And the OC isn’t a financial advisor, nor is it a lending facility, e.g. a bank, therefore it behoves the late paying owner to seek independent advice about getting financial.

And for recalcitrant owners who simply refuse to either pay, or engage with the OC, the surely xCAT should have the power to sell the place to recover money?

[Jimmy-T]

I am closing this thread because none of the above should be here. Someone jumped on the automatic posting of the Forum Roundup befoere I got round to deleting it and responded to three different question in the one place. Clever, huh?  My fault for not deleting the topic quickly enough but, hey, when do we ever ask or answer three questions in the one place?

If you want to be alerted when anyone replies to your posts or responds to this topic, please register and login, then you will be able to subscribe to the topic. The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers. NB: Longer threads may spill over to additional pages - look for the numbers on the bottom right, under the last post.

[Author]

Replies