Property Law
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Andrew Bell
Gold Coast Apartment Strata Fees: What Levies Cover, Why They Rise, and What to Check Before You Buy
The apartment looks perfect, the price is right - and then the contract disclosures arrive with a levy figure that changes your borrowing maths. Strata fees are the most underestimated cost of Gold Coast unit ownership. Here is how levies actually work, why they climb, and what to check before you commit.
The Two Funds (Sometimes Three) Every scheme levies owners into:
Administrative fund - the day-to-day: cleaning, gardening, pool service, insurance, electricity for common areas, small repairs Sinking fund - the long game: repainting, lifts, concrete remediation, roof and pool replacement. Older schemes with thin sinking funds are one major works notice away from a special levy Some schemes also run a separate insurance fund or collect for a community title layer (master scheme levies sit on top of subsidiary scheme levies in layered developments) How Your Share Is Calculated: Unit Entitlements Levies are struck per unit entitlements - a schedule attached to the community management statement giving each lot a number reflecting its value/share. 1 Bigger or better-positioned lots pay proportionally more. Your entitlements also drive your voting power, so a lopsided schedule matters twice: in what you pay and what you control. Check them in the disclosure documents.