I do understand Jimmy T’s point that a benchmark % (of lot value) for what levies should be is a useful starting point – one strata manager’s website actually quotes Jimmy’s percentages in their article explaining what Levies are – but unfortunately many strata owners do not understand clearly enough how strata works to realise that levies could sometimes need to be 2 or 3 times these percentages, especially if maintenance has been ignored or underfunded. Therein lies the danger.
It is hard enough for a Committee to sell large levy increases to owners at the best of times – having rules of thumb for levies out there only makes it harder to shake owners out of their low levy complacency.