interest rate update
Under the new WA Strata Titles Act to take effect from 1/5/2020, the interest rate on levy arrears is dropping from 15% to 11% This interest is not meant to impact interest that is already accruing on arrears.
However, when we change to the new rate, all accrued interest will be reduced as Strata Master will recalculate all accrued interest on levy arrears with the new rate.
Please build something that allows the interest rate to be updated from a specific date without the new rate impacting interest that has already accrued.
Hi Supporters,
I am happy to let you know that your suggestion has been released!
Please refer to the latest Release Notes in the Knowledge Base https://kb.rockend.com/help/strata-master-version-12-0-4-release-notes for more information regarding this feature.
Please note you will need to upgrade to Strata Master Version 12.0.4 to use this feature.
Kind Regards
Amy Newmarch