Video Explainer – How are strata levies calculated?
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
If you have any questions about strata management in Adelaide contact us at:
Stratarama
08 8276 0426
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This article and the information provided represents general advice and does not take into account any specific financial situations, objectives or needs of an individual or Body Corporate/ Strata Corporation. Before you make any decision about whether to acquire a certain product, you should read the relevant product disclosure statement, policy wording and/or consult your Insurer.
