Topic: Questions about Extremely Low Strata Levy – FLAT CHAT

This topic has 3 replies, 3 voices, and was last updated 14 years, 7 months ago by .

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07/02/2012 at 1:17 pm #7899 Reply | Quote
fight4justice
Flatchatter
Recently after months searches, I have found a Sydney CBD studio apartment (around 54 sq m) in Kent Street and intend to buy to live in. The apartment block is now owned by a company and has been used as serviced apartments. Now the owner company wishes to offload part of the apartments in the building and may be selling all eventually. One thing which I find suspicious is that the strata levy per quarter is abnormally low about $580.00 wheareas comparable studio apartments of the same size in the vicinity have much higher levy ranging from $1000 to $1400. The apartment block has facilities such as swimming pool, gym and elevators.

Can any strata professionals or someone with similar past experience and knowledge advise me what caution should I take to ensure there is no trick in the low levy which is quite attractive and a big selling point projected by the real estate agent. Is it advisable to employ a good conveyancing solicitor and highlight this point to him to investigate the reason for the abnromal low levy? Is there any chance that the strata levy may be raised substantially after the owner has disposed off all the serviced apartments?

All comments and opinion will be much appreciated.
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Reply To: Reply #14681 in Questions about Extremely Low Strata Levy

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