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What are the three different types of strata levies?

There are three different types of Strata Levies:

  1. Administrative fund levies – this covers the day-to-day running expenses of a strata building such as insurance premiums, cleaning, gardening, electricity, plumbing and  fire inspections.
  2. Capital works fund (previously named sinking fund) – for capital expenses, long-term repairs and maintenance of common property, including repainting, renewing, repairing or replacing fixtures and fittings
  3. Special levies – These levies that are raised by owners corporations for unexpected expenses where no funds were allocated, such as emergency repairs and unexpected upgrade expenses.

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