Managing Arrears In A Body Corporate

If levies are paid by the due date, Qld legislation allows the Body Corporate to allow a discount of up to 20%, provided this in implement by way of a General Meeting.  This will need to be accounted for in the budget but it’s an act of motivation for the owners to ensure levies are paid on time.

If a levy has been outstanding for 2 years, then legally under Qld legislation, the Body Corporate can incorporate a debt collector.  The longer a debt is unpaid, the more the money builds up and is harder for the owner to pay.  14 days after the due date the owners are sent a reminder.  If levies are still unpaid, another reminder is sent and if after another 14 days has passed and the debt has not been paid, a final notice will be sent.  If contact through email or phone call is unsuccessful, the Committee will discuss and if they want to send a debt collector, the costs will be paid for by the owner.