Discounts and other magic tricks to get levies paid on time and on budget

Among the many differences between Queensland and the rest of the country is the enthusiastic use of levy discounts north of the border.  It’s a simple concept – work out your strata budget, add 10% and then offer that much as a discount for payment by the due date.  It is effectively a legal form of penalty – late payers have to pay 10% more than others and still get charged interest and costs for recovery action. The owners corporation still has the money it needs, even if in the best case scenario everyone pays on time.     Read the article…………


Related Articles

NSW Strata Reforms: What By-laws Apply to My Strata Scheme?

Many lot owners, particular those in older strata schemes, do not know what by-laws apply to their scheme. While the

The 21 new strata laws all NSW apartment residents need to know about

There are more than 90 changes to the strata laws that come into force in NSW on November 30. Here

QLD: Dealing With Nuisance Owners

This article about a problem lot owner strata has been supplied by Frank Higginson, Hynes Legal.  If you talk to