Invoice Hub is a fantastic system where Committee members and Building Managers can view and approve invoices before they are paid.

On the Invoice Hub, approvers are able to view invoices that have been entered into the accounting software by Sunstate Strata.

If the approver is happy with the invoice to be paid they can approve the invoice.  If however the approver feels the invoice is incorrect and should not be paid they can send it back to the team at Sunstate Strata for review, editing or deleting.

The Invoice Hub system allows the Committee control over invoices that are paid.  Invoices will not be paid unless they are approved.

When an invoice is entered into the system at Sunstate Strata it is coded, described and then uploaded to the Invoice Hub.  An approver will then receive an email alerting them that there is an invoice or invoices on the Hub awaiting approval.

For more information about Invoice Hub please click here and watch the video created by StrataMax.

If you think Invoice Hub may be perfect for your Body Corporate please contact our accounts department today!  accounts@sunstatestrata.com.au or 07 5450 5300.

*Image belongs to StrataMax.

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This can be a very viable option for those lot owners whom travel and are away from home, or are just sometimes forgetful.

The  Direct Debit is set up through ‘Stratapay’.

There are two options for lot owners to select when setting up a Direct Debit through Stratapay;

1. Autopay – The payment for your levies is taken from your bank account approximately 5 business days from the due date of the levy.  The amount taken is the exact amount of the levy that is due.
2. A reoccurring payment amount of your choice, reoccurring on a date and interval you choose.

Option 1 is often utilized by lot owners as it is ‘Set and Forget’ .

As long as the funds are available to debit from your nominated bank account or credit card, your levies will always be paid by the due date.  This ensures you will always meet discount dates (if applicable to your Body Corporate), avoid penalty interest (if applicable to your Body Corporate) and avoid overdue fees which are processed on overdue notices and final notices.

If Direct Debit is something you would like to establish for payment of your Body Corporate levies then please follow the steps set out hereunder;

1. Click on this link to obtain the Stratapay Direct Debit form for completion.
2. Phone our office on 07 5450 5300 or email accounts@sunstatestrata.com.au  and request your ‘Stratapay reference number’.
3. Complete the Stratapay form and then post the form to the address at the bottom of the first page.

Once your direct debit is set up with Stratapay, your future levy notices will have Direct Debit notated on them.

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The Body Corporate collects money for the insurance premiums as part of levy contributions.  Levy contributions are collected each year.

Body Corporate Insurance Premiums for Building Insurance

How much you pay as an owner toward the building insurance premium is determined by what type of survey plan your Body Corporate scheme is registered under.

If your scheme is registered under a Building Format Plan then your share of the insurance premium is based on the interest schedule lot entitlement.

If your scheme is registered under a Standard Format Plan the Body Corporate has to insure buildings with common walls.  Your share of the insurance premium relates to the cost of reinstating the building on your lot.

If your Body Corporate sets up a voluntary insurance scheme and you decide to take part, then you must pay and amount that relates to:

• the value of your building as a part of the total replacement value of the buildings insured under the policy;
• What you do on your lot and how that affects the total risk covered by the policy (e.g. if you store chemicals which could be a fire risk)

Adjusting Building Corporate Insurance Premiums

In some cases the Body Corporate can change the amount an owner pays towards to  insurance premium.

The Body Corporate can do this if…

• The lot has better fittings and fixtures than other lots that affects the premium
• Improvements have been made to the common property which benefit the lot and affects the premium
• What is done on the lot increases the total risk covered by the insurance policy

Excesses

The Body Corporate can decide to take out an insurance policy where an excess has to be paid on an insurance claim.  An excess is an amount of money paid towards a claim you make on the insurance policy.  The excess may be the Body Corporates responsibility to pay or the lot owners responsibility to pay.

Who Pays The Excess?

This depends on a number of things.  For example, if the Body Corporate claims on its insurance because a lot has been damaged by water from a leak in that lot, the lot owner would normally pay the excess.  However, if the damage to the lot happened because the Body Corporate did not properly maintain the common property, it would be reasonable for the Body Corporate to pay the excess.

The general rule is if an event affects:

• One lot – the owner should pay the excess unless the Body Corporate decides that it is unreasonable for them to do so.
• Two or more lots – The Body Corporate should pay the excess unless the Body Corporate decides it is reasonable for the excess to be paid by one or more of the affected lots
• One or more lots and the common property – The Body Corporate should pay the excess unless the Body Corporate decides it is reasonable for the excess to be paid by 1 or more of the affected lots.

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You may be aware that on 1st October 2016 a $2.75 processing fee was introduced for DEFT payments made at Australia Post outlets.

When you pay your levy via DEFT at Australia Post, you will be charged this processing fee at the time of payment.

For example, if your levy is $100.00, $2.75 will be added to your levy payment amount at point of payment at Australia Post, so your total payment due will be $102.75.

It is important to note that if you choose not to pay the $2.75 processing fee at time of payment, this amount will be deducted from your levy payment.

This will result in a shortfall in the actual amount outstanding to your Body Corporate.  Please note that the processing fee is applied by DEFT Payment Systems, and not Sunstate Strata so if you are unaware of the changes to DEFT payments you may fall behind in your body corporate payments.

Alternative payment methods are;

• A direct credit into the Body Corporate’s bank account.  This can be done via the internet through your internet banking or in person at your bank.  You will need to contact Sunstate Strata for your Body Corporate’s bank account details prior to using this option.
• Send a cheque to DEFT at GPO Box 141, Brisbane QLD 4001
• Use one of the other options on the bottom of your levy notice
• Set up a direct debit through DEFT or Stratapay

There is no $2.75 processing fee on the above options.

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