Topic: Transparency on Interest Charges! – FLAT CHAT

This topic has 1 reply, 2 voices, and was last updated 8 years, 4 months ago by .

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30/04/2018 at 10:47 am #10979 Reply | Quote
StM@lo
Flatchatter
Good Morning Forum,

I Have looked @ NSW Strata Regs & previous topics however have NOT been able to find any suitable information.

We are currently in arrears with our strata contributions, WE do NOT dispute this!

thus there are interest charges applicable, WE do NOT dispute this!

I have spoken & and written to our strata manager to request a detailed statement of how the interest has been Calculated on our overdue levies,

I.E Overdue amount x interest rate x days overdue = Interest payable!

( $ 1000.00 x 0% x 01 Jan 2018 – 31 Jan 2018 (31 days) = $ 0.00 ) .

this exchange has been going on for nearly 8 weeks, Our Strata Manager, who is the owner of the Business has NOT provided this information, & has decided, Verbatim: I’ve spent too much time on this! We have NEVER suggested that the amount isn’t / wasn’t overdue, we have NEVER suggested a penalty Interest amount isn’t / wasn’t payable, We have NEVER suggested that our strata manager is in any way responsible for our payment is overdue, We simply seek a solution that ONLY the Strata manager is able to provide, and move forward.

IS this request Reasonable? IS there any regulation that may require this information to be provided?

Thanks Forum.
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Reply To: Reply #20112 in Transparency on Interest Charges!

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