We get particularly annoyed when we see arrears notice fees being charged to lot owners. In our view this seems to be just a revenue opportunity for many body corporate managers. Not for us!
Our system automatically issues an email and or TXT warning of an overdue payment every month. There is no charge for this. Additionally, the email is sent after the due date for the levy but before any penalty fees are applied (which is legislated as one month after the due date). A lot owner who then pays in full before the penalty fee date will have not been hit with any additional payments. Happy days!
Contrast this with a typical body corporate manager approach. The notice is often issued only after the penalty fee date so usually they must pay both the penalty amount (2.5% of the outstanding levy) and an arrears notice fee (typically $39). Usually, there can be confusion and the lot owner pays one of the amounts but not both or not quickly enough and a second penalty kicks in which spirals into additional arrears notice fees being issued. Outcome – lot owner very unhappy – but a very happy body corporate manager who is earning arrears notice fee revenue for what many would consider an automated task.