Strata levies are the fees payable by the owners of each lot which cover the expenses of administrative tasks carried out by the strata scheme. This involves both daily operational expenses (administrative fund) and future expenditure (sinking fund). The strata levy amount is determined at each annual general meeting which is decided by a majority vote and the strata levy which you will be required to pay is calculated on the unit entitlements of each lot. Strata levies are generally paid every three (3) months. We recommend you contact one of Sydney property lawyers to help you further understand strata levies and the legal aspects of purchasing a strata title property in Sydney.
Our Sydney conveyancing team services all Sydney localities including Darlinghurst, The Rocks, Rozelle, Glebe, Ultimo, Randwick, Coogee, Vaucluse, Bellevue Hill, Potts Point, Pyrmont, Paddington, Bondi, Bondi Beach, Bondi Junction, Double Bay, Rose Bay, Woollahra, Surry Hills, Redfern, Waterloo, Mascot, Alexandria, Botany, Pagewood, Eastgardens, Enmore, Mosman, Cremorne, Dover Heights, Balmain, Kings Cross and surrounding Sydney suburbs. Call one of our Sydney Strata lawyers for a free consultation or home appointment on (02) 9233 4048.
Comments (0)
Add a Comment