15 Sep Levies
As required by the Articles of Association, a Finance Committee, appointed by the Board, shall establish and maintain a levy fund sufficient in its opinion for the control, management, maintenance and administration of the Association including the provision of security services for the Estate. Funds required to run and operate the Estate are estimated in advance for each year. The budget consists of all items of expenditure likely to be incurred in the control, management, administration, and provision of facilities for the Estate in general and in particular of its common property. The ZEMA levy is determined by dividing the forecast expenditure by the total quantity of leviable units in the Estate. Levies are due in advance for the full 12-month period in January of each calendar year or monthly advance payment via debit order.
Members have the option to pay their levies in one of the two following ways as stipulated by the Board:-
Payment Option 1
Members may pay for the full 12-month period in advance. Members who choose this option will be allowed a discount on their annual levies (subject to ZEMA Board review from time to time at their discretion) and payment must be made by January 31st of each calendar year to benefit from this discount. Details are available from the ZEMA offices.
Payment Option 2
Members may pay in 12 monthly instalments and payment is due in advance by the first day of each calendar month via debit order. The Debit Order system is compulsory to avoid any delay in payment, particularly for members who may reside overseas. Members are assured that the amount of the order is fully under the control of ZEMA and not the banking institutions.
Please address any account queries to the ZEMA offices for the attention firstname.lastname@example.org. Any other payments options may be considered on special request. Please direct these enquiries to the ZEMA offices. ZEMA reserves the right to immediately request full payment of the annual levy should the Resident fall into arrears.