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We need to raise a special levy and all have agreed the work is needed. However, one unit owner says they cannot afford to contribute to a special levy right now, and has asked that we postpone until they are in a ‘better position’.
All other unit holders are eager to go ahead with the levy and the work but this owner is not budging and continues to say “I cannot pay”.
What can we do?
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@awayday said:
We need to raise a special levy and all have agreed the work is needed. However, one unit owner says they cannot afford to contribute to a special levy right now, and has asked that we postpone until they are in a ‘better position’.What can we do?
If the work is needed, it’s needed. You can try to help this owner in whatever way you can but when push comes to shove they have to pay. If they don’t they are liable not only to 10 percent interest but also the cost of debt recovery. It’s tough but it’s in their and everyone else’s interest foir them to find the money. If they simply can’t, you can raise a strata loan and pay it off when the debt is recovered.
Don’t forget you have a legal obligation to maintain and repair common property. Paying a special levy may not seem like a priority to this owner – your job may be to convince them that it is.
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Jimmy is correct, it’s one of those things when you live in Strata. Levies are raised by vote at an EGM and if the numbers agree then all Owners must pay the levy in line with there unit intitlements. If any Owner defaults then they face recovery action.
Sadly, this problem will increase as more people with fixed incomes find that the cost of living in a Strata plan increases.
If they have family who will benefit from their estate when they die, it would pay for them to help out the resident to pay higher levies, and get needed work done, so that when selling, the best price should be obtained.
Some do not realise that living in aged care could be even more costly, especially if their home would need to be sold to purchase an accommodation bond.
Many thanks!
