Misleading strata levies prompt calls to protect buyers

SOURCE | smh.domain.com.au | Sue Williams

“I see a lot of developers lying about how much levies should be as they have no legal obligation to be truthful,” said developer Marco Novati, whose projects include The Tin Sheds at Balmain, Sugarmill at Camperdown and Henry at Lilyfield. ”They can write what they like and, by the time the new owners have moved in and discovered how much it costs to run their building, the developer has already sold out and doesn’t care.

”I believe strata fees should be legislated by the government.”

The president of Strata Community Australia (NSW), David Ferguson, said he was aware this happened and was in favour of regulation.

“You could legislate for a sinking fund analysis, which would be put together by an appropriately qualified assessor or quantity surveyors,” he said. “Some people do make buying decisions based on the level of strata fees and while ethical developers present a reasonable budget and levies, some others don’t.”

The Owners Corporation Network is also advocating for legislation around the setting of levies. “Too often levies are set unfeasibly low even for the first year, when big-ticket items in buildings are covered by the warranty period,” executive officer Karen Stiles said.

“We know of buildings who’ve had to raise levies by 70 per cent or double them after the first year.”

Mr Novati also recommended that buyers demanded to see a proper statement to determine how the vendor had arrived at the strata levy.

“Some people are just presented with a single line saying what the levies will be – but people shouldn’t believe that,” he said.

New ways to keep strata levies realistically low include having building gyms open to paid-for memberships and separating the retail and residential strata plans to ensure owners don’t end up subsidising the costs of the business components of their block or complex.

[ VIEW SOURCE | smh.domain.com.au | Sue Williams ]

SCA Launches Best Practice Insurance Disclosure Campaign

September 10, 2024

Strata Community Association

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Strata & Community Living Autumn 2024

May 23, 2024

2024 Autumn Edition

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Strata & Community Living Summer 2023/24

April 23, 2024

2023/24 Summer Edition

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Strata & Community Living Winter 2023

June 30, 2023

2023 Winter Edition

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Strata & Community Living Autumn 2023

April 14, 2023

2023 Autumn Edition

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Strata & Community Living Spring 2022

December 15, 2022

2022 Spring Edition

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Strata & Community Living August 2022

August 31, 2022

2022 August Edition

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Strata & Community Living Summer 2022

March 9, 2022

2022 Summer Edition

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Step Up for Autism

February 21, 2022

Support Our Team

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Strata & Community Living Winter 2021

December 18, 2021

2021 Winter Edition

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Strata & Community Living Autumn 2021

May 3, 2021

2021 Autumn Edition

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Strata & Community Living Summer 2020

February 8, 2021

2020 Summer Edition

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Strata & Community Living Winter 2020

August 31, 2020

2020 Winter Edition

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Strata & Community Living Autumn 2020

August 31, 2020

2020 Autumn Edition

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The Great Strata Challenge: COVID-19

May 5, 2020

SCA (NSW) - A Complete Guide

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Coronavirus - We’re All In This Together

March 25, 2020

Important Message

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Australian Fires - A Message from Rural NSW

January 10, 2020

"A Huge Heartfelt Thank You"

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$10,000 Donation Scratches the Surface of Need in Rural NSW

December 10, 2019

Let's Support Our Farmers

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Strata & Community Living Spring 2019

October 21, 2019

2019 Spring Edition

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Strata & Community Living Winter 2019

August 14, 2019

2019 Winter Edition

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Strata & Community Living Autumn 2019

March 18, 2019

2019 Autumn Edition

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Strata & Community Living Summer 2018

December 4, 2018

2018 Summer Edition

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Strata & Community Living Spring 2018

September 19, 2018

2018 Spring Edition

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Strata & Community Living Winter 2018

August 13, 2018

2018 Winter Edition

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Brightening Anabela’s World

July 31, 2018

Let's Support Anabela

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Strata & Community Living Autumn 2018

May 31, 2018

2018 Autumn Edition

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Strata & Community Living Spring 2017

October 10, 2017

2017 Spring Edition

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Conti Strata - Introducing Our New Name & Look

July 14, 2017

New Company Branding

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Your Strata Law Questions Answered

July 13, 2017

Strata Law Questions Answered

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Strata & Community Living Autumn 2017

March 22, 2017

2017 Autumn Edition

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Strata & Community Living Summer 2016

February 8, 2017

2016 Summer Edition

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New Strata Law Reforms

November 30, 2016

Joe Conti | Principal & MD

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Strata Reform Myth Busters

November 29, 2016

NSW Government | Fair Trading

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Major Changes to Strata Laws

August 15, 2016

NSW Government | Fair Trading

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Strata & Community Living Winter 2016

July 5, 2016

2016 Winter Edition

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Strata & Community Living Autumn 2016

May 6, 2016

2016 Autumn Edition

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Swimming Pools Laws Have Changed

May 4, 2016

NSW Government | Fair Trading

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Strata Owners Day

April 18, 2016

Strata Community Australia (NSW)

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Anabela the Little Warrior

April 8, 2016

Let's Support Anabela

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Small things that matter so much

February 16, 2016

Miss Isabella

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Strata & Community Living Summer 2015

December 15, 2015

2015 Summer Edition

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It's Happening. NSW Government's Strata Law Reforms.

November 13, 2015

NSW Government | Fair Trading

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Strata Law Reforms

November 3, 2015

The Rules are Changing

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Meet Conti Strata’s Newest Talent

July 31, 2015

Introducing Mary Toutzaridis

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Strata & Community Living Summer 2014

December 10, 2014

2014 Summer Edition

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Hello Concord! It's Carnival Time.

October 13, 2014

Proud To Be A Part of Concord Carnival 2014.

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Let's Support the Amazing Work of Save Our Sons

October 10, 2014

Snap, Share, Show You Care! #Link4DMD

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New Strata Laws for Windows - The Lawmakers.

April 3, 2014

Parliament of New South Wales

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New Strata Laws for Windows - The Government.

April 3, 2014

NSW Government | Fair Trading

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New Strata Laws for Windows - The Minister.

April 3, 2014

Minister for Fair Trading | Anthony Roberts MP

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New Strata Laws for Windows - The Hospitals.

April 1, 2014

NSW Health | Children's Hospital at Westmead

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Inside Strata Magazine: Regulatory Reform Edition

March 18, 2014

Strata Community Australia

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C'mon Team, Only 17 More Hours to Victory

March 12, 2014

Congratulations Sydney Coastrek

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Join Us, Trekking To Restore Sight

January 22, 2014

Supporting Sydney Coastrek

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Brighter Days Ahead for Isabella

January 21, 2014

Goodwill Bash | Miss Isabella

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Strata & Community Living Summer 2013

December 5, 2013

Strata Community Australia (NSW)

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Reform of strata and community scheme laws.

November 15, 2013

NSW Govt. | Dept. of Fair Trading

https://contistrata.com.au/wp-content/uploads/2013/11/strata-management-news-17a.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-11-15 05:57:562023-12-28 17:15:42Reform of strata and community scheme laws.

Naming rights or naming wrongs? Apartment Branding.

October 3, 2013

news.com.au | Susan Wellings

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The Only Way Is Up. Sydney's High-Rise Apartment Living.

October 2, 2013

news.com.au | Toby Johnstone

https://contistrata.com.au/wp-content/uploads/2013/10/strata-management-news-15a.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-10-02 06:09:052023-12-28 17:15:43The Only Way Is Up. Sydney's High-Rise Apartment Living.

Strata & Community Living Spring 2013

September 23, 2013

Strata Community Australia (NSW)

https://contistrata.com.au/wp-content/uploads/2013/09/strata-management-news-14a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-09-23 06:25:102023-12-28 17:15:43Strata & Community Living Spring 2013

Strata Insurance Commissions: Mythbusters

September 2, 2013

CHU Underwriting

https://contistrata.com.au/wp-content/uploads/2013/09/strata-management-news-13a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-09-02 01:40:242023-12-28 17:15:43Strata Insurance Commissions: Mythbusters

Micro living in the big city is not for everyone

August 27, 2013

theage.com.au | Marika Dobbin

https://contistrata.com.au/wp-content/uploads/2013/08/strata-management-news-11a2.jpg 354 531 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-08-27 06:43:122023-12-28 17:15:43Micro living in the big city is not for everyone

Misleading strata levies prompt calls to protect buyers

August 26, 2013

smh.com.au | Sue Williams

https://contistrata.com.au/wp-content/uploads/2013/08/strata-management-news-12a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-08-26 00:53:202023-12-28 17:15:43Misleading strata levies prompt calls to protect buyers

Junior Wolves triumphant in Benny Elias Shield

August 16, 2013

Concord Burwood Rugby League

https://contistrata.com.au/wp-content/uploads/2013/08/strata-management-news-09a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-08-16 05:02:572023-12-28 17:15:43Junior Wolves triumphant in Benny Elias Shield

Strata law review and pets. Apartments go to the dogs.

June 19, 2013

news.domain.com.au

https://contistrata.com.au/wp-content/uploads/2013/06/strata-management-news-08a.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-06-19 22:39:432023-12-28 17:15:44Strata law review and pets. Apartments go to the dogs.

Strata manager gets World's Greatest Shave

March 13, 2013

Conti | The World's Greatest Shave

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New window lock laws for NSW strata buildings

March 13, 2013

AAP | Liam Howitt

https://contistrata.com.au/wp-content/uploads/2013/03/strata-management-news-02a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-03-13 13:02:572023-12-28 17:15:44New window lock laws for NSW strata buildings

Strata & Community Living Autumn 2013

March 1, 2013

Strata Community Australia (NSW)

https://contistrata.com.au/wp-content/uploads/2013/03/strata-management-news-03a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-03-01 13:04:152023-12-28 17:15:44Strata & Community Living Autumn 2013

Doctors calls for new building legislation

January 25, 2013

news.com.au | Marnie O’Neill

https://contistrata.com.au/wp-content/uploads/2013/01/strata-management-news-04a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-01-25 13:05:172023-12-28 17:15:44Doctors calls for new building legislation

Changes to the law on smoke-free outdoor areas

January 7, 2013

Media Release | Jillian Skinner MP

https://contistrata.com.au/wp-content/uploads/2013/01/strata-management-news-5a.jpg 354 531 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2013-01-07 13:08:032023-12-28 17:15:44Changes to the law on smoke-free outdoor areas

Strata & Community Living Summer 2012

December 1, 2012

Strata Community Australia (NSW)

https://contistrata.com.au/wp-content/uploads/2012/12/strata-management-news-06a.jpg 354 531 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2012-12-01 18:09:052023-12-28 17:15:44Strata & Community Living Summer 2012

Strata & Community Living Spring 2012

September 1, 2012

Strata Community Australia (NSW)

https://contistrata.com.au/wp-content/uploads/2012/09/strata-management-news-07a1.jpg 215 300 Conti Strata http://contistrata.com.au/wp-content/uploads/2017/07/MAIN-Horizontal-on-White-Logo-400x120.jpg Conti Strata2012-09-01 13:10:232023-12-28 17:15:44Strata & Community Living Spring 2012

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