› Flat Chat Strata Forum › Strata Committees › Should we lend the OC money to get work done? › Current Page
Paying levies in advance may be the cleanest way to do this. The owners could pay the levies in advance and receive a statement from the treasurer/strata manager acknowledging this. Subsequently, each levies notice would contain the amount of the levies and a statement of the positive outstanding balance. However, you’d have to work out how long it would take to recoup the money by this method.
That said, a much better plan might be to get a short-term strata loan that could be paid off by a special levy at the next AGM. That, however, would require agreement at a general meeting.
And on that note, if you make this a private loan, make sure you don’t fall foul of Section 100 of the Act, which requires agreement at a General Meeting.