#18855
Jimmy-T
Keymaster

    As PeterC said, it depends a lot on the facilities that a building has plus the number of units that share them.  For instance, apartment blocks converted from hotels often have fewer units per lift that purpose built flats – and sharing the considerable expense of additional lift maintenance will push levies up.

    But judging by a discussion we had on this website a while ago, in apartment blocks with facilities, annual levies should range between 0.7 and 1.2 percent of the value of the apartment. Townhouses and apartments with no shared facilities  would be about 0.4 to 0.6 percent.  That’s not to say that these are hard and fast rules but if your levies are a lot higher or a lot lower than this, you should ask why that is – too low can be just as bad as too high because it often means that not enough is being spent on the building so the value of your property is being damaged in the long term.

    Peter is right that you can’t really fix the levies to the values of the property but if your levies are in the middle of the very broad ranges quoted – and remember it’s referring to annual levies – the figures should not be a cause for alarm in themselves.

    The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.