Unlock the Savings Part 2
5 Oct 2018 - Investment Tips

This week we discuss any other savings that can be unlocked. Have you ever missed a discount on a body corporate levy notice? Have you ever been charged an interest fee because you were late on a payment due to some unforeseen circumstances?

The body corporate committee normally makes a decision to reinstate a lost discount or remove an interest charged. However, a lot of owners take things at face value when they lost a discount or when they are charged interest. If you have a very good history of levy payment, and a very good reason for missing the due date, then put a request through to the body corporate committee to consider reinstating the discount or removing the interest charged.

Often you will find that the body corporate committee members are made up of lot owners just like yourself. There will be instances whereby your genuine reason will be accepted, especially if you have a good history of paying your levies on time. Body corporate managers will already have in place a body corporate discount application form, so ask for one, and unlock the hidden savings. Every cent counts.

Last but not least, consider signing up a direct debit agreement. This allows the body corporate to debit your nominated account a couple of days before the due date so you will never lose a discount. A good property manager will have systems and diary checks in place to make sure your levies are paid on time.

To find out whether or not you are entitled to a lost discount, and for an appraisal of your property value and rental return, email your name, property address, and/or reason for late payment to jens@gcpropertyexpo.com.au.