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. […]
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 […]
Body Corporate Pool Safety Certificate
The Department of Housing and Public Works webiste notes that: If residents of 2 or more dwellings can use a pool, such as a body corporate pool, it is a shared pool. The website further notes Shared pool owners, such as bodies corporate, can take advantage of a 2 year phase-in period from 1 December 2010 to […]
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 […]
Body Corporates and Marina Berths
The Body Corporate & Community Management Act 1997 (BCCM Act) states a body corporate can only be registered on freehold land. This is why some body corporates are registered under different acts and are governed by the provisions of that respective act as well as the Building Unit & Group Titles Act (BUGTA). A marina […]
Section 206 disclosure statements to be phased out, replaced
The Property Law Bill 2023 was passed by legislative assembly on 25th October 2023. This bill modernises Queensland’ property legislation and implements a seller disclosure scheme in Queensland. Once enacted sellers of free-hold land, which would include lots in a body corporate, will be required to disclose relevant information to a buyer in a single document. A […]
Types of body corporate
When we talk about body corporate most people picture either a high rise building or a group of townhouses. Strata titling, the process that creates a body corporate can be used for all sorts of developments. In this article I look at the most common types of body corporate. Duplex and Triplex The most common form […]
Body Corporate Combustible Cladding Requirements
Combustible cladding such as Aluminium Composite Panel (ACP) blasted into our collective awareness in 2017 following the tragic fire at Grenfell Tower in London where 72 people died. A malfunctioning refrigerator was the fire source and was quickly put out. Unfortunately, by the time the source was extinguished the flames had reached the exterior. A […]
16 Things Respectful Body Corporate Residents Do
There are two groups of people in a strata scheme: lot owners and body corporate residents. When I use the term “body corporate residents” I mean everyone who lives in the scheme, owners or tenants and their various visitors. How body corporate residents treat each other is a key measure of the success of a […]
Body Corporate Balconies: Common Property or Part of the Lot
Body corporate balconies cause a surprising amount of drama. This Melbourne waterproofing website reports: A recent insurance survey has shown that “Balcony Waterproofing” has the highest failure rate of all areas in the building envelope. As you’ll see below there are many common ways in which balconies fail. This article will explore the issues that arise with balconies and […]