What do strata levies cover?

General information from Lawmateanz

If you own an apartment or unit in a strata or community title scheme, you pay levies to the owners corporation or body corporate under state law.

Levies cover shared costs, such as building insurance, maintenance of common property, management fees and a capital works or sinking fund for major repairs.

Levies are set at general meetings, usually based on each lot's unit entitlement.

If you're buying, ask for the strata report or disclosure statement to check finances and planned works.

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