Levy Recovery Stage 1-issue reminder 35 days after due date
35 days! Our previous strata manager sent the Stage 1 notice after ONE day. Now that we’re self-managed, we send the first notice after one week. I assume you’re in NSW. Please read Strata Schemes Management Act 2015 (NSW) Section 86 for accurate information about the debt recovery procedure.
You could cut this down to two stages:
Levy Recovery Stage 1: send this letter one day after levies are due. This letter should also give them 21 days’ notice of impending recovery action.
Levy Recovery Stage 2: initiate recovery action 22 days after levy is due.
A debt recovery plan is voted on at every annual general meeting. Our scheme follows the Strata Schemes Management Act 2015 exactly. Our letters carefully outline how interest is calculated if they are more than 30 days late. In the past, we bankrupted one owner for long term default of levies. It cost them thousands of dollars in legal fees.