🏢 Strata Life S3E21: Levy Arrears & Your Legal Rights! ⚖️

Are unpaid strata levies causing stress in your Owners Corporation? 🤯 In this episode, we break down levy arrears, debt recovery, and your legal rights under Victoria’s strata laws. Stay ahead with expert insights on Owners Corporation management, avoiding disputes, and protecting your property investment.

💬 Got strata questions? We provide legal guidance to keep your community running smoothly! DM us or tune in now. 🎧✨

In the last episode, I talked about high strata community levies. I'm going to cover now what's somewhat related; levy arrears that I would like owners to avoid. Strata communities, raise budget for future expenses. This is important for you to understand. That means that if there's budget protected and your share is not collected, what's going to happen is not only you but the rest of the owners would be impacted by that. And a once-offer special levy would have to be raised to cover what you have not shared. So, it's important to avoid levy arrears. But I understand it's not easy. What do we do?

Even before you receive that final notice from the strata community and you already know that you may be struggling just for this period of time, already propose a payment plan and request for penalty interest not to be charged. Of course, you have to give them reasons as to why your payment is going to be delayed or it would have to be paid in staggers. Provide proof so that you can demonstrate that you're genuine with your situation, you're truthful about your situation, and you're genuine to resolve. the levy arrears as you address them. So, and this means not to be reactive and wait for a lawyer's letter demanding that you pay in full because it becomes more difficult for you.

Remember, you have two things that you can do. Propose a payment plan and or ask for the penalty interest to be removed at the end of the day and provide supporting proof of course to this situation and comply with the payment plan that's been on. to show genuineness that you want to resolve the issue. At the end of the day, please keep in mind as well that it's the Strata community who need to consider whether they would accept your proposal. But you're always entitled to make those proposals. Hopefully these strategies will help you, but best to avoid it, the levy arrears.

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