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Understanding levies
As an owner, you are required to pay levies towards the property’s upkeep. It’s a vital way to protect your investment. There is a lot of misconception about strata levies, so it is helpful to know how these fees work and why they are important.
What are levies and fees?
Levies are payments designed to cover the costs of a range of administrative, repair and maintenance activities that are necessary to keep the property in good order. Learn more
Who sets my property’s levies?
Levies are set by the owners. Levies are outlined in the annual budget and approved at the property’s annual general meeting (AGM). The budget also states when levies should be paid, for instance, quarterly or annually. Learn more
How are levies used?
The funds are typically put towards two separate accounts: an administrative fund and a capital works fund (also known as a sinking fund). These funds belong to the property and do not go to the community manager. Learn more
How do I pay my levies?
The payment options will vary based on your branch location. Select your branch from the dropdown at the top of this page to view payment options available.
Where do I find my BillPay code and reference number?
Reminder
It’s important to note that the amount you pay in levies and fees is not the amount that you pay for management services. The majority of your levies go towards the administrative and maintenance costs of your property, with the management company receiving only a small proportion of the total fund.
You can see the amount you have paid for management services in the financial report supplied prior to your AGM.
