Why Paying High Strata Levies May Not Be A Bad Thing
Dan Grantham • Jul 02, 2023
Strata fees are levies that need to be paid for the management and upkeep of a strata scheme. Typically these will be in apartment or townhouse complexes.
All property owners must pay these levies and these can range depending on the age of the building, location, type of common facilities and size of the building.
A common part of the brief that I have when helping apartment buyersn find the right property is the request for low strata levies. But there can actually be many benefits of paying higher strata fees, I have put together 4 main benefits of high strata levies below:
- Well-kept: High strata fees often indicate that the building management has plenty of funds for maintenance and repairs. Owner occupiers will appreciate living in a building with well-kept common areas, shared amenities and structural components.
- Retained value: Properties in well-maintained buildings tend to retain their value over time due to offering a better living experience for residents.
- Financial stability: As buildings age, issues arise. Well-funded buildings mean it’s less likely that owners will be hit with an unexpected and exorbitant expense.
- Tax deductible: Investors can deduct the strata fees they pay from the rent they collect, resulting in a lower income on which to pay tax.
High strata fees ensure they remain in good condition and adhere to ever-changing regulations, such as more stringent fire and safety requirements.
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