How do interest charges work?

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  • 26/02/2016 at 6:27 am #10335 Reply | Quote
    jpsblue75

      Does anyone know how the interest that is charged works? My strata manager charges interest after just 20 days or so after the levy notice is sent out and i have since found a interesting piece of information that interest can only be charged after 30 days, the details are;

      There is a small safety net for owners is that Interest can not be charged within the first 30 days after the levy is due.

      http://www.stratatalk.net/uncategorized/levy-contributions-by-nathan-clarke/
      Nathan Clarke, Newcastle NSW Licensed Strata Managing Agent.

      Has anyone had heard of this? Is this correct?

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    Reply To: How do interest charges work?
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

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