At Strata plan we are completely aware of, and understand, the current challenges that we are all facing. We will continue our efforts to communicate with your Owners Corporation and/or Committee, as the need arises to seek their instructions for issues that are raised by Lot Owners with regards to any financial hardships or delays in Levy Payments.
It is important to note, that whilst your Owners Corporation is legally obliged to ensure all Owners pay their fees, Owners Corporations and/or Committees do have powers to waive interest & other charges on a case by case basis.
While we strongly recommend that Levy collection be pursued, an alternative to issuing proceedings is to enter into formal payment plans with recalcitrant Lot Owners for payment of the current arrears balance plus the next 2 or 3 quarterly levies. A payment plan can provide some relief to a Lot Owner who may otherwise be struggling financially and will ensure that the Owners Corporation receives at least some funds on a regular basis.
We have listed below some frequently asked questions that may help answer some queries:
Q: If I have been stood down or have lost my job and I am having difficulties in paying my Levies am I able to arrange for a payment plan, to assist with making my payments.
A: Yes, a payment plan can be entered into over a 3 month period. If you take up this option, Strata Plan will arrange for a member of our Finance Team to give you a call to put this payment plan into place.
Q: What happens if I enter into a payment plan but I am not able to pay my fees in full at the end of the 3 month term.
A: If you fail to pay your Levies by the due date, interest is charged. However, you can apply to your Committee for the waiving of interest by completing this form.
Q: If I am unable to make the payment of my Levies, due to having lost my job or being stood down, am I able to get an extension of time, to make my payment.
A: Yes, consideration can be given to the granting of an extension, for Levies to be paid but this would have to be brought to the attention of the Owners Corporation/Committee to firstly notify them that such a request has been received and to seek their approval to do so. It is important to keep in mind, that the Owners Corporation has a commitment to meet their obligations to its various Suppliers and Contractors. It is necessary for the Owners Corporation to have sufficient funds to be able to do this.
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