Special levies happen in body corporates more often than you might think, and, for some lot owners it’s “the final straw” and the reason they decide to sell. Does that mean any new owner automatically becomes responsible for paying those special levies? As with most things in the body corporate industry, it’s depends. It will […]
posted on February 6, 2014 by
4 KPI’s To Tell If A Body Corporate Is Financially Sound
A body corporate is a mechanism for managing common property. A mechanism funded by lot owners. Body corporates can and do run into difficulties stemming from many different issues. And if they get into difficulty they’re most likely going to finance any extra funds needed by way of levies on the lot owners. If its important to you […]
posted on December 20, 2013 by
Should I Order A Full Or Short Body Corporate Records Search?
MyBodyCorpReport.com.au offers two types of pre-purchase body corporate records search; a short form purchaser search and full purchaser search. But which one is right for you? The two reports are designed to meet differing needs. Short Form Body Corporate Records Search As a search agent I have no idea what issues are going to be […]
posted on November 12, 2013 by
The Dangers Of A Majority Lot Owner In A Body Corporate
This week in Purchase or Pass a two bedroom, one bathroom, clean and tidy lot in a good location with pleasing aspect was the subject of discussion. The catch: One lot owner has a 75% majority holding within the building. The panel of experts unanimously agreed they would pass on this opportunity, despite each believing the […]
posted on April 8, 2013 by
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 […]
Unless stated otherwise all the information on this website relates to Queensland legislation.
