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Levies are an essential part of ensuring you protect the value of your property. The monies collected are divided into two separate funds.

An administration fund for current operating costs and a sinking fund for longer term maintenance.

Attend your annual general meetings the amount of levies you pay is determined by you and the other owners of your scheme.

https://www.fairtrading.nsw.gov.au/housing-and-property/strata-and-community-living/strata-schemes/levies-and-capital-works-funds