Reply To: Time frame for Paying Special Levies ?

thanks Jimmy for your reply

Re : Is there legal requirement to have 60% of funds collected before construction to starts in January 2025 & all funds collected by Jul 2025 with 11 months of works still to be completed ?

We have been advised : “In entering into a contract, an Owners Corporation must demonstrate that they can pay for the works. You will also not be able to establish HBCF insurance for the works without demonstrating this ?” does this mean we have to collected all the levies before works start or just have special levies programmed to be each quarter to cover the cost of the works as completed ?

The strata loan option from a company like from Lannock Finance [thanks for the tip] has been rejected by the majority of owners in an informal poll we had amongst owners recently

thanks in advance

• This reply was modified 8 months, 1 week ago by .