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  • #7909
    WLG

      I would appreicate it if you could advise if there is a limit on the amount that the EC can increase levies by.

      I recently purchased a unit Neutral Bay and when I exchanged contracts on the property on the 21.9.2011 my levies were $1,190 PQ.  I settled on the property on 4.11.11 and received my first quarterly levy invoice from the Strata Managers in late November which listed my levy as $1,897.  I contacted the Strata Manager and the EC Secretary and they advised that they could increase the levy by this amount.  It came as a bit of a shock I can tell you.  Prior to this increase they had been raising special one off levies to pay for building repairs.  I would appreciate it if you could confirm if this is in order i.e. are there any limitations on how much a strata levy can be increased in one year? 

       

      Many thanks

      Wilana

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    • #14731
      Jimmy-T
      Keymaster

        It's the other way round – the Owners Corporation is required by law to raise levies to a whatever is required to pay the building's bills.  But it's not the EC that does this – it's the owners (like you) at an AGM and that's the place to go and ask questions about levies for the coming year.

        It's not unusual, however, for brand new apartments to be sold on the basis of unrealistically low levies – a scandal that government really should do something about.

        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.
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