Unfortunately I mix writing this blog with searching strata records so often what I’m writing is a reflection of what I’m actually seeing in real body corporates rather than to a cohesive plan.
That’s something I’d like to address in 2015 by actually making a plan (I know, astonishing idea!) and then, hopefully, following the schedule. So expect to see more articles along story lines.
But before I kick that off I want to reflect on 2014 and in particular the most popular articles throughout the whole year.
Top 10 articles for 2014
A run-down of how water and rates are charged to lots in body corporates which can be quite different from what happens with a house.
2. Schedule of lot entitlements
Lot entitlements in Queensland are different from other states and they determine what each lot owner pays toward costs and the overall value of the lot.
Lots of people buy with the idea that they’ll renovate, however in a strata scheme there are some considerations to keep in mind.
4. How to calculate body corporate levies
Body corporate levies change every year. This article sets out how they are calculated.
5. A quick guide to levies in arrears
It’s important to pay your levies, both in terms of fiscal viability and harmony of the scheme. This article discusses what happens when levies aren’t paid, and what to do if you can’t pay.
6. Section 206 disclosure statement: What is it and what can it tell you?
Every contract will have a section 206 disclosure statement. This is what it is and more importantly what tips it can give you about the scheme.
7. Certificate of classification
Every building has a certificate of classification from the lowliest shed to the biggest high rise. This is what it’s for and how body corporates use them.
8. A Deficit in body corporate funds
There are several KPI’s that signal possible financial problems in a body corporate and a deficit in body corporate funds is one of them. If you see it on your body corporate’s records find out what’s going on.
9. How to find units with low body corporate fees
Levies are the running and holding costs of a unit. It makes sense then that the lower the levies the easier it is to manage the cost of the property. This is what to look for.
10. Who pays for what? Building Format Plan vs Standard Format Plan
Different types of plans have different boundaries between the common property and lot. Knowing your body corporate’s plan is essential.
It’s interesting but not surprising to note that many of the articles that are most popular through the year relate to the costs of holding a unit.
What you’ll see in 2015
There’s a wonderful old Japanese proverb that goes:
“Vision without action is a daydream. Action without vision is a nightmare.”
MyBodyCorpReport.com.au is about helping buyers and sellers of units navigate the process. It’s a fairly simple premise but I tend to stray from that vision from time to time so my aim in 2015 is to focus more on that core area.
With that in mind I’ll be writing more about the process of buying, when to order a strata report, how to interpret it once you have the report and the many different issues that arise in body corporates.
Selling is also a huge issue in Queensland with disclosure statement requirements and I’d like to put together some resources to help sellers minimise their outgoings when selling.
What do you think?
Those are just my ideas.
I’d love your input. Is there anything you’d like to hear more about? Leave a comment and let me know.
Unless stated otherwise all the information on this website relates to Queensland legislation.
