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Apartment owners warned after woman's shock $52,000 repair bill: 'More than my mortgage'
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Owners are being warned about the frustrating reality of facing huge bills from special levies if problems are found in their large apartment complex.
Yahoo Finance has heard multiple stories in recent years of special levy nightmares in apartment blocks in inner Sydney and Melbourne.
If a majority of owners at a strata meeting vote one way, in most cases all owners are tied to the outcome.
Owners urged to know their strata building rules and rightsStrata title property ownership was first introduced in NSW in 1961 and has expanded in cities across the country.
Nick.whigham@yahooinc.comIn some cases, it can really pay for apartment owners to get expert legal advice after receiving a bill for remediation or repair work.