I did a search recently where a special levy was issued. A special levy is one of many red flags in a strata search, an indication there may be bigger problems so, hey, you best investigate. On that occasion the small special levy turned out to be the tip of a complex situation that’s going […]
posted on September 29, 2014 by
Why Get A Strata Report?
Why get a strata report? There are two key reasons to check out a body corporate or owners corporation before your commit financially and finalise your purchase: cancellation / renegotiation of the deal or peace of mind the building is sound. Buying into a body corporate is not the same as buying a house. A […]
posted on July 15, 2014 by
10 Questions To Ask Before Buying A Unit
If you’re thinking of buying a unit then, most likely, you will be buying into a Body Corporate or Owners Corporation. Strata titled properties are different from free standing houses in a number of different ways. Firstly along with ownership of your unit you’re taking on a share of the body corporate as well, with […]
posted on July 8, 2014 by
I’m Buying Off The Plan: Should I Still Get A Strata Search?
I say to everyone I meet who’s considering buying a unit “get a strata search!” There are simply far too many things that could go significantly wrong and end up costing you a fortune and / or make you miserable. Of course, I have ulterior motives because I am a strata searcher. It’s still good […]
posted on May 13, 2014 by
15 “Red Flags” In A Strata Search
I spend my days reading reports and trying to decipher what they mean, usually so I can report that information to others in a strata search. As a Strata Searcher you learn pretty early on that it’s best to be thorough in reporting. If you don’t you’ll end up going back to answer questions, or […]
posted on April 2, 2014 by
How Do You Do A Strata Search And Can I Do It Myself?
Strata searching is not rocket science. Actually it’s not any sort of science. Doing a strata search is about reading, and anyone can do it. When I learnt strata searching a very knowledgeable lady took me out into the field and walked me through the process. She then spent the next month sitting in the […]
posted on March 19, 2014 by
Who Gets A Strata Search?
Strata searches, or body corporate roll searches as they’re called here in Queensland, are, well, my reason for being in business. I believe that buying into a body corporate without actually finding out what’s going on is just nuts! There is lot that can go wrong, and not just financially either. Sometimes, often actually, the […]
posted on March 17, 2014 by
What To Look For In Your Pre-purchase Strata Search
There’s that special moment when you sign a contract when you’re not sure whether you’re suffused with excitement or sheer terror. What have I just done? It’s normal. It even has a name; Buyer’s Remorse. As a purchaser what you’re really looking for in these moments is peace of mind that you’re not buying into […]
posted on April 8, 2013 by
Body Corporate Insurance Valuations
Body corporate insurance valuations are a vital tool in ensuring (pun intended) lot owners are fully indemnified should anything happen to the body corporate. The Body Corporate & Community Management Act 1997 says The body corporate must take out the following building insurance: – building format plan (BFP) — insurance for the full replacement value of […]
posted on April 8, 2013 by
You and Body Corporate Membership
Sometimes people complain that they don’t need to pay their levies, or observe the by-laws of a body corporate because they’re not actually a member of the body corporate. They never joined, they don’t want to and frankly none of that stuff has got anything to do with them. And while we’re on that subject […]
posted on April 2, 2013 by
My Body Corporate Doesn’t Have A Name
When you’re dealing with body corporates in Queensland one of the first thing that most people in the industry will ask is “What’s the name of your building or complex?”. That’s because, in Queensland, body corporate names are how schemes are indexed. But wait you say, my body corporate doesn’t have a name. Actually in Queensland all […]
posted on April 1, 2013 by
Body Corporate Levies & Expired Current Levy Year Issued
Body corporate levies are set on a year to year basis, three months after the start of the new financial year. For reporting this creates issues. Sometimes a disclosure statement or records search will quote levies for a period that has expired. For instance, say the levies are quoted to 31/7/2012 and yet the date of […]
Unless stated otherwise all the information on this website relates to Queensland legislation.
