NSW Fair Trading & the National Debt Helpline Focus on Strata Levies

Strata levies have been an increasing focus since economic pressures have been growing on Australian households. A few states are starting to make changes requiring strata buildings to reasonably consider payment plans, delay legal actions, and limiting cost recovery.

Now that the global economy and markets may be entering a recession, the strata levy arrears problem is likely to get worse.

Maybe NSW Fair Trading knew this was coming since its webpage has a lot of information and material for strata owners, including links to the National Debt Helpline and the following video.

Either way, it seems likely that if and when strata levy arrears increase, it will be harder for strata buildings to take hard action to recover them quickly, and strata owners will get more time, options, and help to deal with arrears.

So, it’s going to be a new world of strata cashflow management for strata buildings, committees and managers.

You can find the NSW Fair Trading strata levies webpage here.