How much is in the body corporate sinking fund? This is the most common question when buying a unit. Unfortunately the balance is only half the story. The more telling part is how much should be in the body corporate sinking fund? This article is about how a body corporate sinking fund is accumulated, where […]
posted on March 4, 2014 by
Case Study: Insufficient Sinking Funds, Why It Happens And What It Means
Someone told me a story the other day about an apartment sale that fell through when the purchaser found out the building needed lift replacements. At an estimated cost of $1,000,000. To be shared by 60 owners. My first reaction was, wow, great example of the benefit of a strata search. My second reaction was, […]
posted on April 17, 2013 by
How To Calculate Body Corporate Levies
Mention the word body corporate and most people immediately think of levies. I’m convinced it’s the one thing that everyone knows about body corporate’s that’s actually correct. Every body corporate does issue levies. What amount those levies are is vastly different from building to building. I’ve seen levies per lot as low as $55 per year and […]
posted on April 8, 2013 by
Deficit In Body Corporate Funds
A deficit in the body corporate funds is a definite red flag as often it’s an indicator of a more serious issue financial issues. A body corporate is a legal entity, just a like a company or individual, and just like companies or individuals body corporates can run into financial problems, incur debt and be made bankrupt. […]
posted on March 31, 2013 by
Body Corporate Levies
One of the most common misconceptions about body corporates is that they are overcharging for levies or somehow making money off the lot owners. I’m never really sure what nefarious purpose people think is going on, but it’s not at all what’s happening. Body corporates are heavily regulated in almost every aspect and levies more […]
Unless stated otherwise all the information on this website relates to Queensland legislation.
