By the Paddocks Club team
Below are examples of two questions on the Paddocks Club discussion forum, to show you what is available to our Community members!
Over payment of levies
If an owner within a scheme has overpaid on his levies over a period of time, and as a result has accumulated a substantial credit on his levy account, is he entitled to a refund? We have an owner in one of our schemes who is in this position and is instructing the body corporate to refund him this credit on his levy account.
It would largely depend on what the trustees resolution and accompanying notice says regarding when the levies become due and payable. In other words, was the entire year’s levy due and payable at the beginning of the financial year and the members simply afforded the opportunity to settle it over time OR does the monthly instalments only become due and payable on a monthly basis?
If the owner has paid more than is legally due and payable by him, he is legally entitled to the credit. In other words, that money is not the body corporate’s (as it is not legally entitled to it). Therefore, the money should be paid over to the owner’s bank account if he so requests.
Financials posted on management system
We have owners in body corporate’s who have requested that all financials (including bank details, financial statement, etc.) be posted on our management system. Which will not just be available for trustees but all owners.
Is there anything in the Act which prevent any of these information made available to other owners.
No, there is not.
In fact, all owners have to have access to this information on request. By making it available for viewing, you are just simplifying the process as they will not first have to request the detail and wait for you to send it on to them – it will be readily available at their fingertips.
Article reference: Paddocks Press: Volume 13, Issue 10.
Professor Graham Paddock, Zerlinda van der Merwe and Ané de Klerk are available to answer questions on the Paddocks Club discussion forum for Community members. Get all your questions answered by joining Paddocks Club.
This article is published under the Creative Commons Attribution license.