How are strata levies calculated?
Let’s break it down!
Levies are based on the budget owners approval and can cover three key ways of raising funds:
- Administrative Fund – For everyday/ year costs like gardening, cleaning, insurance, fire & lift contracts and bills.
- Sinking Fund – long-term saving for projects like roofing or painting.
- Special Levies – For unexpected or planned major expenses.
Each owner pays based on unit entitlements, basically a percentage, applied by the strata plan.
No two Strata groups have the same costs, maintenance and levies
