FAQ

Some useful information and resources that will provide you with further insight into strata management as a whole.

What Is An Owners Corporation?

An owners corporation is a legal entity which consists of all the lot owners within the complex. An owners corporation is governed by specific legislation and by its own by-laws. There are a variety of structures and types of owners corporations permitted under the Act.

Levies

Levies are separated into 2 different funds:

Administrative Fund

This fund is used for regular recurring expenses, including payments to contractors, maintenance and repairs and so on.

Sinking Fund

this is a separate fund put aside for non-recurring payments, and expenses such as the purchase of new body-corporate assets.

Is there late fees for late payment on Levies?

Yes – unpaid levies are subject to late fees and interest charges. Please ensure levies are always paid promptly on time to avoid any further unnecessary charges.

What if I haven’t received a Levy notice?

It is still the property owners’ responsibility to ensure that all levies are paid on time. Please ensure that the necessary processes are implemented to ensure Levies are paid in full promptly without relying on an issued notice.

What happens if i move to new premises?

If you have moved and your correspondences/levies need to be forwarded to a new address, you need to notify our office as soon as possible in writing, via email, fax or posted letter. We also require written notification if you have changed tenants/agents.

What is a quorum?

A quorum is required for any general meeting to be valid, and becomes valid with either 25% of financial lot owners or financial lot owners holding over 25% of the total unit entitlements.

What is a proxy and when can i use it?

A proxy is used to authorise someone else to vote on your behalf in your absence at a meeting.

Have More Questions?

Contact one of our friendly staff for any further questions or enquiries you may have.

Contact Strata Management & Solutions today to find out more about our services and how we can help.