Levies are collected by debit order on the 1st day of each month and interest may be charged at the rate of 4% over prime on all outstanding balances. The levy amount is determined annually based on a budget prepared by the trustees and adopted at the AGM. Levies and other charges applicable are payable to the Big Bay Residential Estate HOA.
The bank account details are as follows:
Bank: Nedbank – Heerengracht
Name of Account: Big Bay Residential Estate Home Owners Association
Branch Code: 103109
Current Account No: 1031387552
REF: Your Erf no.
An Endowment Levy of 0.5% of the purchase price is payable upon registration of transfer of an Erf into the name of a new purchaser, when a property is sold.