Posted by Grant Beaumont on November 28, 2018

Collecting Levy Arrears: Law Changes

  It’s easy for owner corporations to ignore their financial management responsibilities and focus on enforcing by-laws and carrying out repairs and maintenance. To them, financial management is just something they need to think about when it’s time for the next Annual General Meeting and for striking levies. Fortunately, most owners make all payments on time and they have enough money coming in to ensure bills are paid on time. Things don’t always proceed so smoothly however. Sometimes, financially strapped owners delay in

Posted by Grant Beaumont on November 15, 2018

Strata Plan Financials

A look at how the New Act affects an Owner Corporation and Strata Managers It has now been some time since the commencement of the Strata Schemes Management Act 2015 (the Act) which took the place of the Strata Schemes Management Act 1996 (the Old Act), but I felt it was timely to discuss some changes that may not be well known to owners, to the extent they relate to the financial management of schemes. Meticulous financial management is absolutely crucial when managing any strata scheme. It is impossible for the Owners Corporation to fun