Strata Fees
Strata fees are regular payments made by owners in appartment buildings or townhouses to cover shared property expenses.
Quick Reference:
Ongoing Cost. Covers Maintenance. Usually quarterly.
Expanded Explanation:
In strata-titled properties, owners collectively maintain shares spaces like roofs, lifts, gaardens and driveways. Each owner pays strata fees, which go towards a sinking fund for long term maintenance and an administritive fund for everyday costs. Straata fees can vary depending on property size, facilities and location. High rise apartments with pools or gyms usually ave higher fees than smaller complexes.