While many committees are willing to work with owners who demonstrate genuine financial hardship, there are situations where a payment plan won’t be approved.
What If Your Levy Payment Plan Is Rejected? Read More »
A special levy is a one-off payment that owners are required to make in addition to their regular levies. Unlike annual levies, which are based on the body corporate’s approved budget, a special levy is raised to fund unexpected or extraordinary costs that weren’t accounted for when the budget was set.
Why Special Levies are Raised Read More »
Body corporate levies are not optional. They’re critical to keeping your building maintained, insured, and operational. When even one owner fails to pay their levies on time, it affects everyone in the scheme. But what happens when you’re genuinely unable to meet your levy obligations? A payment plan could be your solution.
How to Request a Payment Plan on your Body Corporate Levies Read More »
Understanding what drives levy increases can help owners feel confident that their contributions are protecting their property’s value and keeping the scheme running smoothly.
Why Do Body Corporate Levies Increase? Read More »
Entitlements are numbers assigned to each lot (unit, townhouse, or apartment) within a body corporate scheme. They determine ow much you pay in levies and your voting power in general meetings.
Understanding Lot Entitlements in Body Corporate Read More »
When levies are not paid on time, it may lead to cash flow issues and delays in essential maintenance or services. Here’s a look at the main reasons behind late or unpaid levies and practical strategies to manage these.
The Common Causes of Body Corporate Levy Arrears Read More »
Over time, however, low levies often come at a price. What may initially seem like a financial advantage can lead to a poorly maintained building, unexpected financial burdens, and even decreased property values.
Why low levies are not always better Read More »
The body corporate is legally obligated to recover all levies from lot owners, as these funds are essential for covering the operational costs of the property. If you fail to pay your levy invoice by the due date, the body corporate will take steps to recover the overdue amount.
What Happens if I Don’t Pay My Levies? Read More »
Unforeseen financial difficulties can make it challenging to meet your property committments. If you find yourself unable to pay your body corporate levies, here are some steps to take and information to consider.
What If I Can’t Pay My Body Corporate Levies? Read More »
One critical factor influencing levy payments is the number of lots within the scheme. This article looks at how the size of a scheme influences levy contributions and the implications for lot owners.
Why the size of the scheme matters when it comes to levies Read More »