Fri | Jul 20, 2018

CSC faced with low compliance, hosts forum to inform strata managers of responsibilities

Published:Thursday | April 13, 2017 | 6:56 AM

The Commission of Strata Corporations (CSC) says compliance with requirements to pay annual fees and file annual returns remains low among strata corporations.

The CSC's inspectorate manager, Ainsworth Norton, says compliance is below 30 per cent.

Norton says one of the main reasons for the low compliance is that many managers of strata corporations are not aware of their responsibilities.

As a result, the CSC has organised a public forum for today at the Girl Guides Headquarters located at 2 Waterloo Road in St Andrew, starting at 5:30 in the afternoon.

It is mandatory under the law for Strata Corporations to pay annual fees equivalent to zero point 4 per cent of the unimproved value of the land to the CSC.

The law also requires Strata Corporations to file annual returns with the CSC, including minutes of meetings as well as audited or properly kept accounting records.

Strata Corporations facing difficulties collecting maintenance fees have the authority under law to rent or sell units within a Strata to recover outstanding sums.