Strata Levies Explained Simply for New Owners

What are Strata Levies?

Strata levies are regular payments you make as a homeowner in a strata-titled building. Think of it like rent for shared spaces and services.

What do Strata Levies cover?

Your levies pay for the upkeep and maintenance of common areas. This includes things like:

• Building insurance
• Cleaning of common areas (like hallways and lobbies)
• Gardening and landscaping
• Repairs to shared facilities (pools, gyms, etc.)
• Building maintenance and repairs
• Administrative costs for the strata corporation

Essentially, anything that benefits all owners in the building.

How are Strata Levies Calculated?

The amount you pay depends on several factors. These include:

• The size of your unit
• The building's overall expenses
• The building's reserve fund contributions

Your strata corporation will provide you with a detailed breakdown of the levy.

Understanding Your Strata Levy Statement

Your strata levy statement shows exactly what you owe and what it covers. Review it carefully. If you have questions, contact your strata manager or the strata corporation.

Special Levies

Sometimes, special levies are needed for larger repairs or improvements. These are separate from your regular payments. The strata corporation will usually give you advance notice.

Why are Strata Levies Important?

Levies ensure the building is well-maintained. This protects your investment and the value of your property. They also help cover unexpected repairs.

Need more information?

Contact your strata manager or the strata corporation for clarification on your specific building's levy structure. This information is vital for being a responsible strata owner.