Definition of Strata Fee

A strata fee, also known as a condominium fee or homeowners association (HOA) fee, is a monthly payment made by owners of condominiums, townhouses, or other properties within a strata-titled development. The strata fee contributes to the maintenance, management, and upkeep of common areas and shared amenities within the development. The fee is typically determined by the strata corporation or HOA and may vary depending on factors such as the size of the property, the amenities offered, and the overall operating budget.

Related terms

1. Condominium
2. Homeowners association (HOA)
3. Strata corporation
4. Strata title
5. Common areas
6. Reserve fund
7. Special assessment
8. Maintenance fee

References

• Investopedia: “Condominium Fee”
• Realtor.com: “What Are Strata Fees? The Costs and Benefits of Condo Living”
• Zillow: “Strata Fees: What to Know When Buying a Condo or Townhouse”