Financial Hardship & Payment Plans

We understand that financial hardship can happen to anyone. Strata levies are essential to the running of your building, but sometimes circumstances make it difficult to keep up with payments. If this happens, there are options available to support you.

Understanding Financial Hardship

Financial hardship means you are temporarily unable to pay your levies when they are due. This might be due to:
 
  • unexpected personal or family circumstances
  • loss of income or reduced work hours
  • medical or emergency expenses
  • other financial pressures.
If you find yourself in this situation, it’s important to act early. The sooner you reach out, the more options we can help you explore.

What You Can Do

If you are behind on levies, you have the right to request a payment plan. This allows you to spread your overdue contributions across regular instalments over a period of up to 12 months.
 
You can also ask the owners corporation to consider waiving interest on your overdue contributions. While interest normally applies at 10% per year, the committee can vote to remove it.
Download the official NSW Fair Trading Payment Plan Form

What to Expect

  1. Complete the form – Fill out the NSW Fair Trading Request for a Payment Plan for Overdue Contributions.
  2. Send it to us – Return the form to your strata manager or customercare@jamesons.com.au.  We will present it to your strata committee for consideration.
  3. Committee review – The committee must provide a written decision within 28 days.
  4. Outcome – If approved, your plan will begin. If declined, you will receive written reasons that apply to your situation.
During this process, we are here to support you and facilitate the process, but please note the decision rests with your owners corporation (via the strata committee).
  • Duration: Plans can last up to 12 months. You may request another plan once it ends.
  • Debt recovery costs: You will not be charged debt recovery costs while you are on an approved plan and meeting its terms.
  • Interest: 10% per year applies unless the committee votes to waive it.
  • New levies: You must continue to pay all new levy notices on time while the plan is active.
  • Right to refuse: A plan may be refused if:
    • instalments are too low to clear the debt within 12 months
    • new levies are not being paid alongside the plan
    • the scheme’s finances cannot support it (for example, where major repairs or special levies are planned).

Your Rights and Support Options

As an owner, you have the right to:
 
  • request a payment plan and receive a decision within 28 days
  • be provided with written reasons if your request is refused
  • ask the owners corporation to consider waiving interest on overdue levies
  • seek free, confidential financial counselling through the National Debt Helpline on 1800 007 007 or ndh.org.au
  • apply for free mediation through NSW Fair Trading if you have a dispute about levies.

Further Help

To understand your rights under NSW strata laws, access a translated copy of this information, or apply for free strata mediation if you have a dispute about your levies, visit nsw.gov.au/strata-levies-help or call 13 32 20.
 
  • For language assistance, call 13 14 50 (ask for an interpreter in your language).
  • For a translated copy of this information, visit nsw.gov.au/strata-resources.

More Information

Frequently Asked Questions

The owners corporation, usually via the strata committee, makes the decision. Your strata manager facilitates the process but does not decide the outcome.

Yes, interest is automatically charged at 10% per year. However, the owners corporation can vote to waive interest if they choose.

Payment plans can last up to 12 months. If needed, you can request a new plan once the first one ends.

You must continue to pay all new levies on time. If you fall behind, you may need to request a new payment plan.

The owners corporation must balance your request with the financial needs of the building. A plan may be refused if:

  • Instalments are not enough to clear the debt within 12 months
  • New levies are not being paid
  • The scheme has limited funds or upcoming major expenses, such as repair projects or special levies

Once approved, we can usually complete the transition within a few weeks.

Let’s Improve Your Building Together

At Jamesons, we leave buildings better than we found them, saving committees time and money, and creating happy communities.  If you’re ready for a strata manager who actually delivers, let’s talk.

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Call us on
(02) 8969 3374