Why You Need To Pay Your Annual Levy Fees
7 December 2016
Each owner pays for the maintenance, cleaning, security and management costs in the form of an annual levy. The annual levy also contributes to an equal share towards the body corporate levy. This is used for common grounds outside of the unit maintaining the resort to the standard that you expect.
Included in the annual budget is a provisional allowance for a reserve fund. These funds are used for replacement costs for linen, appliances etc when in its cycle. The funds are also used for a major refurbishment to the units on a 7 year cycle, so you can always be sure that the quality of your investment is maintained to a high standard.