The Most Common Body Corporate Problems (in no particular order)
Although every building is uniquely individual there are a number of body corporate problems that come up over and over. This article is about some of those recurring issues. Be aware these are in no particular order and they have different levels of severity. Some of them are annoying, some are just painful and others […]
Beware Strata Levies That Are Too Low!
The other day I was asked: I am interested in buying a unit but strata levies are $900 per annum on old medium size block of 12 units. When I enquired with unit next door they pay $400 strata levies per annum. Is this possible to have two strata neighbours so different? This is 50 […]
Body Corporate Disputes: Who Are These People?
One of the key strengths of body corporates is the ability to build a community, a place where people feel safe, connected and involved. Communities are all about people. And therein lies the problem. We all know people we like, and those we don’t, people we respect and people who just flat out make us […]
Who Pays For What? Building Format Plan v Standard Format Plan
Something that comes up time and again in body corporates is who pays for what? The body corporate is responsible for common property. The lot owner is responsible for the lot. Issues arise in determining what is common property and what is the lot, since boundaries will differ between plans. There are two types of […]
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 […]
5 Persistent Myths About Body Corporates
read a lot of body corporate records. Those records comprise everything from official documents to professional reports, minutes and of course correspondence. I can safely say, after all this reading, people have some really strange ideas about body corporates. Mostly those ideas are pretty benign, sometimes hilariously funny and in the end don’t make any […]
Do I Need A Section 206 Disclosure Statement For My Duplex?
A duplex is defined as a house divided into two lots, each with it’s own entrance. Most, though not all, duplexes are characterised by joint wall(s) somewhere in the building. Just because there are two lots in a duplex doesn’t necessarily mean there are two titles and the lots can be sold separately. Quite the […]
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, […]
How To Find Units With Low Body Corporate Fees
Average body corporate fees in south east Queensland run around $5,000 – $6,000 per annum. That’s $96 – $115 per week. Many are a lot higher. The highest levy I’ve ever seen was around $25,000 p.a. or $480 per week. And of course many levies are much lower than that average. The lowest levy I’ve […]
The Hazards of a Poor Body Corporate Committee
For the vast majority of lot owners paying levies, observing by-laws and voting at general meetings will be the sum of their involvement with the body corporate. To a chosen few falls the task of leading and decision making. Management of a body corporate is a simple enough premise: all the lot owners combined vote […]