We’re hearing more and more reports about #stratatitle levy arrears growing as owners face financial pressures in a tougher economy with higher interest rates.
Hi Francesco, where could I locate the proposed changes to the legislation in NSW that is expected this coming year regarding the plight of levy debtors?
Fausto
As far as I know despite some disussion of the fairness of the strata levy recovery expenses issue, I’m not aware of any actual reform proposal.
The only formal guidance is in the NSW 2021 report which has 113 recommended changes [https://hdp-au-prod-app-nsw-haveyoursay-files.s3.ap-southeast-2.amazonaws.com/5716/9906/9234/bcd09f96dcc778897facbfe6bc583325_Department_of_Customer_Service_-_Report_on_Statutory_Review_on_Strata_Scheme_Legislation.pdf] says nothing about it and in fact recommends reducing the time for payment to 14 days for urgent levies.
if anything pops up, I’ll publish about it as I’m also interested in the issue.
Cheers
Francesco
Hi Francesco, where could I locate the proposed changes to the legislation in NSW that is expected this coming year regarding the plight of levy debtors?