Main Menu
Login
STO Forums
Type your search criteria above and click Search to search the forums.
To see if someone has already answered a query similar to yours, click the Search button above and search for terms related to your question.
Interest On arrear levies
Hi All. I am in arrears with my levies - the trustees raises a R30,000 special levy. The trustees got together and decided at a trustees meeting to charge me 2,5% (per month) on the arrears. I understand that interest can only be charged if approved at an AGM or SGM. My question is are the trustees legal in doing this? kind Regards
Replies
You must login to post a reply.
RE: Interest On arrear levies
The short answer is yes. The trustees may charge interest as per PMR 31(6). However the interest may not be excessive. If an owner feels that this figure is too much it may be contested as per a declaration of a dispute with the Body Corporate/Trustees.They are not obliged to refer to a general meeting of owners before making the interest charge.
Advertisements
Website Statistics
- Forum Topics: 6144
- Users: 13887
