FAQs
What are the three different types of strata levies?
There are three different types of Strata Levies:
- 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.
- 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
- 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.