In a strata scheme, Sarah owns lot 15 which has an entitlement of 80 out of 2000 total unit entitlements. If the owners corporation levies a special assessment of $50,000 for roof repairs, how much will Sarah be required to contribute?
Correct Answer
B) $2,000
Sarah's contribution is calculated based on her unit entitlement proportion: 80/2000 = 4% of the total levy. Therefore, 4% of $50,000 equals $2,000. Unit entitlements determine each owner's share of common expenses and voting rights in the owners corporation.
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