To save you time and keep your money safe, Strata will follow these steps to manage your Body Corporate’s payments.
1. We collect your levy
All owners in a Body Corporate must pay a levy to cover costs. The amount you pay is decided on collectively by your Body Corporate.
You need to pay a levy regardless of whether you use a professional Body Corporate management service. If you’re with Strata, we’ll make things easy by collecting and managing everyone’s levy.
2. Strata is paid a fee
Strata charges a fee for managing the Body Corporate, which we’ll deduct from the overall amount we collect.
3. Money is held in a trust account
Besides the fee paid to Strata, the rest of the money from collected levies is put into an audited trust account at ASB Bank.
4. Your invoices and expenses are paid
With authorisation from your Body Corporate, Strata will organise to pay the Body Corporate’s invoices and expenses out of the trust account.