Owner’s Corporations can’t run without fees and levies, they generate the necessary funds that are used for maintenance, insurance and all other important expenses. Making sure the notices for these are issued on time, and in a clear and concise manner makes it much more likely that they will be paid promptly, avoiding unnecessary delays or complications.
How are the fee and levy notices sent?
Levies are set by the members of the owners corporation at the AGM, but special levies can be required if unexpected spending is necessary. Notices are provided to all members of the Owner’s Corporation, along with a due date. This is usually done via written communication, though other forms can also be used, depending on the preference of the members.
What happens if someone falls behind in their payments?
Keeping track of the payments is part of the role of an Owner’s Corporation Manager. If someone falls behind, there may be a short grace period, but after that interest on the overdue amount can be charged at the behest of the Owner’s Corporation.
Unpaid levies also make a lot owner ineligible to vote at meetings. This status continues for as long as that party is in arrears.
What is someone doesn’t get their notice?
Notices are always sent out to all lot owners, via the details provided to the Owner’s Corporation. Even if the notice hasn’t been received, the levies and fees are still due. Mayfield will always attempt to contact anyone with overdue fees or levies, and often it’s just a matter of providing a reminder, and updating the contact details.
How can Mayfield make this easier for my Owner’s Corporation?
By processing the notices through Mayfield, all Owner’s Corporation members will have a single point of contact for information on their levies and fees. The payment status, overdue amount and purpose of these contributions will be available to all members whenever necessary, so you can rest assured that the Owner’s Corporation has the funding it needs, and the members are being charged the correct amount, at the correct times, helping the Owner’s Corporation run smoothly.