As a lot owner you must financially contribute towards the running costs associated with your building and common property.
These contributions are called levies and they are payable to your strata scheme.
Levy notices are typically distributed to each owner two – three or four times a year to meet the financial obligations of the Body Corporate.
As part of CSM’s management agreement we will send levy notices to owners on behalf of the Body Corporate. CSM prepares detailed budgets in liaison with the Committee to present to Owners
It is important to pay your levies on time, every time. It is your scheme who receives these funds. Penalty fees are usually applicable for late payments.
WHO SETS THE LEVIES?
Ultimately, it is you, the owner.
Levies, as part of the budget, are voted on and approved by the Body Corporate at the Annual General Meeting (AGM) each year.
Utilising its wealth of strata experience, CSM prepares detailed budgets for the Body Corporate Committee to present to owners at the AGM. These have been carefully forecasted to assist your Committee make better, more informed financial decisions to future-proof your scheme.
It is you, the owner, who votes on and approves the budgets at the AGM,
therefore setting the levies amount to be paid for the year.