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Levy Collection not at rate of PQ 5

By Coral Lewis on Tue, 15 May 2018 at 23:30

Prior to the AGM an owner advised the Trustees and Managing Agent they had noticed an error with the levies collected for the previous financial yer (2017/2018) meaning the incorrect PQ had been applied to collect in levies and there was inconsistencies in a 37sqm being charged a different levy.

Smallest unit 27sqm - PQ registered 3.0337% had been charged against 3.0547%
Largest unit 197sqm - PQ registered 21.1348% had been charged against 22.2045%.
Medium size units (18 off) had not been charged inconsistently across all units - PQ registered for all 4.1573% however:
8 off - PQ charged of 4.1336%
10 off - PQ charged of 4.1672%
Meaning the 10 x 37sqm units had their levies subsidised by the remaining units (10 units) who had been over charged for their levy.

The Trustees have acknowledged the error and confirmed it is because the CSOS payment was taken in error out of the levy instead of being charged an additional amount to each unit.

The owner has requested this be amended so all owners pay against their correct PQ however the Trustees have refused.

Reasons given are:
This was not raised at the AGM
Owners get their invoices
End of year financials issued

However it was raised prior to the AGM to the Trustees and MA who did not bring to the owners attention. Invoices only break down the levy amount and CSOS amount as 2 separate entries so it couldn't be ascertained that owners were being charged at the incorrect PQ.
End of year financials do not go down to this level of detail.

Who is right in this?
- the Trustees in leaving as is
- the owner who raised the concern and requested the levy amounts be amended to reflect the correct PQ per unit

what action may be taken by the owner who raised this if the Trustees will not amend?



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RE: Levy Collection not at rate of PQ 5

Clive Owens replied on Thu, 17 May 2018 at 08:25


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