Property ownership

What exactly are levies?

When buying in an estate or sectional-title development, the purchase price is only part of the picture. Levies are contributions towards the shared costs of the homeowners association or body corporate.

What does a levy cover?

Depending on the community, shared costs can include administration, staff, maintenance of communal areas and other day-to-day expenses. The actual services and amounts depend on the estate or scheme; request its current levy statement and budget rather than assuming every development is the same.

Estate and body corporate contributions

A sectional-title home within an estate may have both a body corporate contribution and a homeowners association contribution. Ask whether the quoted amount includes both and which costs remain payable separately.

Questions to ask before buying

• What is the current monthly levy for this particular home?
• Which services are included, and which are billed separately?
• Are any special levies or changes already approved?
• Can the managing body provide the current budget and relevant meeting records?

This is general property guidance, not legal advice. Confirm property-specific amounts and obligations with the relevant managing body and your conveyancer. On IKONIC sale listings, levy and rates amounts are shown only when recorded.