What a Form 33 tells you about a body corporate – and what it leaves out
When buying a unit the seller should give you a form 2 seller disclosure statement which includes a form 33 body corporate certificate. What a form 33 tells you about a body corporate is limited. The form 33 shows what the currently approved levies are, what funds are in the sinking fund and whether or […]
Body Corporate Insurance: What Owners and Buyers Need to Know
Insurance is one of the largest recurring expenses for many bodies corporate, but the premium itself tells only part of the story. For a buyer reviewing body corporate records, the more useful questions are often: What is insured? Is the building insured for an appropriate replacement value? Have there been significant claims? Are premiums or […]
10 Ways Body Corporate Records Can Be Misleading
Body corporate records are useful, but they are not a perfect transcript of everything that has happened. Minutes summarise meetings. Correspondence captures what was put in writing. Financial statements show where money went, but not always why. Reports may sit separately from the minutes that refer to them. Most gaps and inconsistencies are likely to […]
Cracking in a Body Corporate: What Should You Look For?
Report of cracking in a body corporate can be unsettling. Does it mean the building is moving? Is there a structural problem? Are expensive repairs coming? Not necessarily. But possibly, which is why cracking is a red flag. Some cracks affect finishes and can be dealt with through relatively straightforward repairs. Others indicate movement, deterioration […]
Mould in a Body Corporate
Why cleaning the visible growth is only one part of resolving mould in a body corporate Mould appearing inside a unit can look like a straightforward cleaning problem. Sometimes it is. Mould in a body corporate can be anything but straightforward. The location of the visible mould does not necessarily identify the source of the […]
Records Show a Body Corporate QBCC Claim: Should I Be Worried?
A body corporate QBCC claim is evidence of a building defect dispute – not, by itself, proof that owners face a disaster. The important question is what the records show happened next. A reference to a Queensland Building and Construction Commission (QBCC) claim in body corporate records can sound alarming, particularly when you are considering […]
Why A Body Corporate Committee Decision Might Be Complicated
A body corporate committee decision might be more complicated than people expect. For example, someone recently told me their committee had declined their request to turn the rooftop into a seating area. The said the reason for the refusal was because the committee was “out to get them”. I don’t know the building or the […]
Engineering and Building Reports in a Body Corporate: What Do They Tell You?
Body corporate engineering reports can be unsettling to find in the records. Does a report mean something is wrong with the building? Are expensive repairs coming? Should you be worried? Not necessarily. A report may identify a significant problem. It may also confirm that something which looked alarming is relatively minor. Sometimes it recommends further […]
Window Leaks in a Body Corporate
Why finding the source matters more than repairing the stain from window leaks in a body corporate Water appearing around a window naturally makes the window look like the problem. Sometimes it is. But in a body corporate building, the visible leak may be only the place where water finally emerges after travelling through a […]
A Serious Defect Has Been Identified: What Now?
Terms such as structural defect, waterproofing failure, concrete spalling, fire safety defect or major water ingress naturally attract attention. A serious body corporate defects identified is only the beginning of the story. A defect may already have been thoroughly investigated, funded and scheduled for rectification. Another may have been discussed for years without the cause, […]