Estate Rules
Category Property News
Lately, a new fine imposition has been regarding the starting or completion of a building on estate land.
These penalties are enforceable and has penalised many property owners with increases on their monthly levy accounts, from the Body Corporate or Homeowner's Association.
However, these amounts must be stipulated within the constitution, with reasons for penalties, timeframes for completion, and the amounts payable due to defaulting.
Fines of a substantial amount are in place to penalise owners to ultimately warrant compliance.
The levy collections are applied to the daily maintenance and operation of the estate. These rules are enforced to ensure the harmonious functioning and fair living environment for residents within the estate.
Overall, leaving properties undeveloped for prolonged periods, will cause a disadvantage to the estate's sales and affect the aesthetic appeal of it.
Author: Prime Property Marketing
