I have been asked to pay $700 as an insurance levy (this is extra levy) on top of my annual strata management budget… What shall I do? – Aneesh, NSW
After my recent AGM I have been asked to pay $700 as an insurance levy (this is extra levy) on top of my annual strata management budget.
As far as I know I am the only owner being asked to pay the special levy in my two owner duplex building. When I questioned about this special insurance levy (which is already allocated in the budget), the strata team replied that it is to raise the fund possibly!
But why do I only have to pay this and not the other owners? It is taking my peace away and causing stress. What shall I do? Please advise if it is right or wrong before I talk to my strata team again. Thank you so much.
– Aneesh, NSW
Answer: Hi Aneesh,
The only reason one owner has to pay a higher insurance levy is if they’ve done something to increase the insurance premium. If that’s the case, that owner must pay the insurance premium difference. Otherwise all owners should be paying their portion as per the unit entitlement.
The easiest solution would be to ask your strata team for the section of the act under which they believe you are solely responsible for the extra charge in insurance levy.