What is a Special Levy
CAN THE LEVIES BE CHANGED AT OTHER TIMES?
Yes. In an emergency, the trustees can impose a Special Levy to cover unforeseen expenses, such as essential repairs and maintenance. In addition, the body corporate can approve a special levy to cover the cost of improvements to the common property. Special levies must be calculated according to participation quotas. The procedures that have to be followed before improvements can be approved are prescribed in the rules.
- Hits: 2960