Financial Hardship Application
Financial difficulty can come about in many forms and affect people differently. It can be a gradual deterioration of financial stability or an unexpected change in income. Just like banks and utility companies, strata committees may decide to offer financial hardship assistance to individual owners who require temporary relief. Such relief can come in different forms, there is no one size fit all solution. For example, postponing debt recovery for two lots is likely to have a far greater impact to a three-lot scheme than a 200-lot community. Therefore each strata community must decide what it offers (if any) independently.
This form is for individual lot owners seeking financial relief from their Owners Corporation / Body Corporate. Upon receipt, your Community Manager will forward this application onto your strata committee for consideration and seek their instructions.