‘I have nothing left’: Owner’s $64k strata ordeal

An apartment owner in Sydney’s inner west has been hit with a staggering $64,000 bill to fix defects in her building, after a strata loan left her paying thousands more in interest she says she never wanted. Stefanie Iannelli was already bracing for a hefty cost when her apartment block was told it needed millions of dollars’ worth of waterproofing repairs. But the shock got worse when she opened an email from her strata manager and learnt the total repair bill for the 120-unit complex had blown out to $7.5m Her share alone came to $52,500. Then came the sting. MORE NEWS Neighbours forced to pay $105k for man’s reno ‘Nightmare’: Plumber’s $10k home repair warning ‘Smile and wave’: Family quits ‘unreal’ Aussie dream Even though Ms Iannelli said she could afford to pay the amount upfront, the owners corporation voted to take out a four-year strata loan to fund the works, meaning she was forced to cop another $12,000 in interest – taking her total bill to $64,000. “I knew this was going to cost a lot, but I really had no idea,” she told nine.com.au. Stefanie Iannelli has been hit with a $64,000 bill for the waterproofing. The repairs were needed to fix water leaks and carry out extens...