McCormacks Strata Management

COVID-19

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COVID-19 LEVY ARREARS POLICY

McCormacks (MSM) appreciates that this is a difficult time for many in our community. We empathise with all owners experiencing financial difficulty and will do everything in our capacity to assist and provide support through this period.

IMPORTANT INFORMATION

  • Strata levies are payable to the owners corporation for which McCormacks are an agent and are responsible for the collection of levies which are paid into a trust account for your owners corporation;
  • Any request for dispensation will be put forward to the strata committee for their consideration, MSM cannot guarantee approval of such;
  • McCormacks cannot legally waive interest or apply discounts. This is at the discretion of the strata committee and owners corporation and must be done by way of resolution;
  • Any deferment of levies does not cancel the requirement for payment. Levies continue to accrue but the owners corporation may choose not enforce collection action for an agreed period of time;
  • Interest (10% simple interest per annum) is a legislated charge and will continue to accrue unless MSM
    are advised otherwise by way of resolution of the owners corporation;
  • Payment plans should outline a monthly or weekly payment commitment with a reasonable date for
    final payment and include payment of new levies arising; and
  • The ability to vote at meetings will be impacted by the non-payment of levies – this is in accordance with
    NSW strata legislation.

THE PROCESS

  • Owners complete the “Request for hardship consideration” form and submit to McCormacks;
  • MSM sends to Treasurer for approval;
  • Once approved MSM contacts owner to advise committee accepts request;
  • Agreements will be monitored for compliance; and
  • McComacks will reach out to owners monthly to discuss updated circumstances
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