› Flat Chat Strata Forum › Common Property › $3M for repair work – How to pay? › Current Page
23/08/2016 at 12:33 pm
#25339
Hi Kera & Jimmy
Our Strata considered this a few years ago and were informed by the Strata manager that all contributions (i.e. repayments) had to be distributed equally by unit entitlements, and thus it was not possible to have some owners pay upfront and other repay the loan (as those repaying the loan would have higher fees than those who paid upfront). I also think that the Financier backed this position up but am not 100% sure. We are now considering Strata finance again in a different block so would like to have this point answered definitively – if possible without reverting to NCAT to make a determination for unequal levies.