Levies are the fees which all members of an OC are legally obliged to pay. Levies cover all the operational and administrative costs of the OC.
Each year, the Committee will set a budget, factoring all the ongoing costs such as cleaning, insurance, utilities, building management and owners corporation management. If your property has facilities such as a gym, pool or cinema room, the levies will also cover the operation of these facilities.
Rather than viewing these fees as a burden, remember that they ensure the upkeep and maintenance of your property, which protects the value of your asset or home.
Usually, levies are issued by the Secretary of the OC – a role often performed by the appointed owners corporation manager (that’s us!). This can create a misconception that the entire levy amount goes to the manager, when in fact only a small portion of the total is for management fees.
We encourage you to get an understanding of where your fees are going and pay on time to avoid late fees. You can even set up direct debit so you never miss a due date again.
LEARN MORE: Frequently Asked OC Fee Questions, Answered >
Set up direct debit
Submit this form and we will initiate the simple and secure registration process, done via DEFT. If you own more than one Lot, please be sure to submit the form for each Lot you’d like Direct Debit set up for.
What you need to know:
- Simple and secure set up via DEFT
- Nominate the bank account your levies will be deducted from
- Total amount will automatically be deducted 3 business days prior to the last payment date
- Receive processing notifications and payment receipts directly from DEFT
- Any outstanding fees at the time of registration completion will be debited up to 3 days prior to the fee due date
- Please be aware: DEFT has recently introduced a $10,000 limit on direct debit payments, which means debits exceeding this amount are now blocked. To prevent this issue and avoid any negative impact, your charges will now be processed individually. For instance, the amount for your operating levy and the amount for your maintenance plan will now be debited as two separate transactions. Rest assured the total amount debited remains the same.
The benefits of Direct Debit:
- Never miss another invoice from your Owners Corporation
- Automated payments mean no more interest or late payment fees
- No more reminder text messages and emails from The Knight
Submitting this form is the first step of the registration process. You will need to complete the registration as instructed by DEFT and will receive email confirmation when registration is complete.
Any overdue fees* or unpaid interest charges at the time of registration will be debited in 3 days’ time. The day you complete registration with DEFT is considered Day 0 and the funds will be debited on the morning of Day 3.
Please ensure you have sufficient funds in your bank account at this time.
*Overdue fees are considered to be fees that have passed their due date.
Your Management Team.
Your Management Team consists of an Owners Corporation Manager, Owners Corporation Associate and Owners Corporation Accountant.
They are all assisted by our extensive Client Support Team.
We are available to help you with administrative, financial and secretarial matters, as well as maintenance and general enquiries in relation to your Owners Corporation.
You can get in touch by any of the below methods:
Email: theknight@theknight.com.au
Call: 03 9509 3144