14 More Red Flags in a Strata Search

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 […]

How To Decide If Body Corporate Problems Will Affect You

My role is to find body corporate problems. Find them and report them to the buyer or buyer’s Solicitor. But not all body corporate problems are actually, well, problems. A lot depends on their impact. This article is about weighing the pros and cons of body corporate problems to decide if they’re an issue for you, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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