levies

‘Unjust and unfair’: How Karen nearly lost everything to strata debt

2024-03-28T11:50:16+11:00

3 MARCH 2024 Karen Go was nearly made bankrupt two years ago by the strata manager of her block of flats in Sydney’s east over nearly $20,000 in strata levies and legal fees.  She was one of 306 NSW residents, or more than one a week, who faced forced bankruptcy proceedings from strata debt between 2019 and 2023, a legal process that means they can lose their homes over debts as low [...]

‘Unjust and unfair’: How Karen nearly lost everything to strata debt2024-03-28T11:50:16+11:00

Strata committees can cause grief for apartment owners. Here’s where conflict starts, and how to avoid it.

2023-09-28T14:05:10+10:00

28 SEPTEMBER 2023 There are almost 3 million apartments or townhouses around the country that have one thing in common: they're covered by a strata scheme. It means the people who own those properties pay regular strata fees to cover any costs related to shared space. Strata committees — elected volunteer owners — make day-to-day decisions about things like building maintenance, repairs, renovations and other big-ticket items.  They're important decisions. But strata committees [...]

Strata committees can cause grief for apartment owners. Here’s where conflict starts, and how to avoid it.2023-09-28T14:05:10+10:00

Strata debts sending more Aussie homeowners bankrupt

2023-09-04T22:21:24+10:00

29 AUGUST 2023 The Business | ABC News A growing number of homeowners are being sent bankrupt because of debts owed to body corporates over the upkeep of building complexes. Consumer groups say it often starts as a small amount but quickly escalates once fees and charges are added, landing some Australians in court. Strata companies are facing calls to offer hardship arrangements. Watch the full video:> HERE  

Strata debts sending more Aussie homeowners bankrupt2023-09-04T22:21:24+10:00

Collapsed developer Toplace ordered to fix another defective Sydney building

2023-09-04T22:21:18+10:00

29 AUGUST 2023 The Business | ABC News Collapsed developer Toplace has been ordered to fix yet another defective Sydney building. Uncontrolled cracking has been found in the Kellyville apartment complex. It was the third Toplace development slapped with a rectification order in one week. Watch the full video:> HERE

Collapsed developer Toplace ordered to fix another defective Sydney building2023-09-04T22:21:18+10:00

Apartment owners face strata fee increases of 20 per cent as costs soar

2023-07-19T10:50:04+10:00

19 JULY 2023 Strata levies paid by apartment owners are up by 15 to 20 per cent on average over the past year as the costs of insurance, utilities and repairs and maintenance outstrip even the rapid rise in general inflation. Apartment owners are facing an increase in strata fees on top of rises in mortgage repayments. Without any official source of strata levies, the evidence for rising levies is anecdotal, [...]

Apartment owners face strata fee increases of 20 per cent as costs soar2023-07-19T10:50:04+10:00

How strata schemes are letting down Sydney’s apartment owners

2024-01-11T12:28:45+11:00

9 JULY 2023 When Eloise O’Connell joined the strata committee for her apartment in Liverpool, their first task was to raise the fees to prevent insolvency. “Whether your building can be well run is just by the sheer luck of the combination of people who put their hands forward,” O’Connell said. Head of the peak body for residential strata owners the Owners Corporation Network Karen Stiles said the strata management industry [...]

How strata schemes are letting down Sydney’s apartment owners2024-01-11T12:28:45+11:00

Sydney Apartment Investors Fear Debt Trap As Levies Skyrocket

2022-02-08T15:07:11+11:00

Investors from retirees to single mothers on low incomes fear losing their properties after their strata levies jumped from under $2000 per quarter to more than $10,000 for building repairs they had no say in approving. Bright and Duggan told the Herald it was appointed to do work that the owners’ corporation had “failed to undertake over many years with the highest priority of ensuring the building can be safely occupied”. Executive director [...]

Sydney Apartment Investors Fear Debt Trap As Levies Skyrocket2022-02-08T15:07:11+11:00

Mascot owners’ best hope is for $40m firesale

2021-05-14T15:59:01+10:00

5 May 2021 Apartment owners in Sydney’s Mascot Towers will vote this month on a $40 million proposal to sell their troubled apartment tower as a redevelopment site, with many resigned to losing up to 80 per cent on their property as the most realistic way to end their two-year nightmare. Apartment advocacy group Owners Corporation Network says a review of NSW strata laws under way should reduce the scope for [...]

Mascot owners’ best hope is for $40m firesale2021-05-14T15:59:01+10:00
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