Stefanie knew that repairs were coming up for her apartment... but she was not prepared for the size of the bill: 'More than my mortgage'

Published: 01:39, 4 August 2026 | Updated: 01:41, 4 August 2026 An Aussie was shocked after finding out she would have to pay $64,000 to fix major defects in her apartment block.  Stefanie Iannelli was initially hit with a bill of $52,500 to fix water leaks at her North Strathfield apartment complex, in inner-west Sydney. She told Nine she opened an email from her strata manager outlining the total cost of the repairs for the building would be $7.5million, divided among all 120 units. Ms Iannelli's apartment complex required extensive waterproofing works, a type of repair typically needed every 25 years. To fund the works, the owners corporation took out a four-year strata loan, requiring all owners to contribute to the repayments. Despite being able to pay her share upfront, Ms Iannelli said she had to pay an additional $12,000 in interest because owners cannot opt out once a strata loan is approved.  This took her total bill to $64,000.  'I knew this was going to cost a lot, but I really had no idea,' Ms Iannelli said.  Stefanie Iannelli was initially hit with a bill of $52,000 to fix water leaks at her North Strathfield apartment complex, in inner-west Sydney  In NSW, a strata loan can be approved by a majority vote at a general meeting of the owners corporation.  Once approved, all lot owners are required to contribute to the loan repayments, even if they would prefer to pay their share immediately.  As the repair works continue, Ms Iannelli said the repayments have left her with little disposable income.  'The amount of money I have to put aside every fortnight, every payday, is more than my mortgage,' she said.  Around 15 per cent of Australians now live in strata properties, according to the latest Strata Insights Report from the University of New South Wales.  Strata ownership, introduced in NSW in 1961, allows individuals to own their apartment while sharing ownership and responsibility for common property such as roofs, lifts, gardens and driveways. The issue of costly special levies has come under increasing scrutiny as more high-rise apartment buildings report major defects.  For Ms Iannelli, who bought her NSW apartment in 2007, the experience has left her questioning whether she is being forced to pay for past mistakes.  Ms Iannelli said she opened an email from her strata manager outlining the cost of the repairs, which was far higher than she had expected 'Why didn't we have the funds? If things like the waterproofing do deteriorate after 25 years, why wasn't it in the budget?' Ms Iannelli said. Strata management expert Kate Yeowart warned owners can sometimes be wrongly billed when issues are not considered the responsibility of the wider building.  'In strata, the difference between private property and common property can completely change who is responsible for repairs,' she said. 'Owners should never assume an invoice is correct simply because it has been issued to them.'