Body corporate and strata fees explained

Queensland says body corporate, New South Wales says strata, Victoria says owners corporation. Here is what they mean.

What levies pay for

Insurance, cleaning, lifts, pools, gardens, management and a fund for future major works.

How they are set

Owners vote on a budget each year, and each lot pays a share based on its entitlement.

Amenities and cost

More shared facilities usually mean higher levies. Ask for the proposed budget before you buy off the plan.