› Flat Chat Strata Forum › By-laws and outlaws › The committee as strata-cop › Can we charge penalties for late payment of levies? › Current Page
25/03/2019 at 6:07 pm
#36588
Andy said:
Following the above I’m a bit worried our OC might be outside of requirements. A few years ago we voted to charge interest on overdue levies. I need to check but think this is legit.
Not just legit, but obligatory – unless the Owners Corp decides otherwise you must impose a 10 per cent penalty interest charge on overdue levies.
Not sure about the $70 admin fee, though