Defining common property boundaries in a body corporate is essential in working out who is responsible for what. As a general rule of thumb: common property = body corporate responsibility, lot = lot owner responsibility. Bodies corporate are forbidden from spending joint funds on works that benefit a lot and for lot owners there is no […]
posted on January 14, 2015 by
Body Corporate Repairs and Maintenance
One of the coolest things about body corporates is their ability to stay neat and tidy without you having to personally clean and tidy. Of course there’s no such thing as a magical self-caring property so someone is obviously taking care of the place. Who is responsible for body corporate repairs and maintenance? More importantly is […]
posted on October 23, 2014 by
What is Common Property and Why is it Important?
Buying a unit is different from buying a house. The key difference is the ownership structure. With a house, your lot is your lot and that’s it. With a unit the lot itself is only a part of the overall value of the unit. As important is the common property of the body corporate within […]
posted on March 19, 2014 by
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 […]
posted on December 3, 2013 by
Asbestos Register: What Is It And How Does It Affect Body Corporates?
61.4% of New South Wales do-it-yourself renovators reported being exposed to asbestos whilst undertaking renovations of their properties. 39.3% also reported their partner had also been exposed and a further 22.8% that their children had been exposed. I don’t know about you but that idea just terrifies me. Asbestos is such a silent killer. Once exposed it can […]
posted on April 3, 2013 by
Exclusive Use Allocations
Sometimes parts of the body corporate common property are allocated to specific lot owners as exclusive use. If exclusive use allocations are made they must be recorded and then the allocation becomes, well, for the exclusive use of that lot owner. Basically an exclusive use area becomes an extension of the lot and the lot […]
posted on March 27, 2013 by
Common Property
The body corporate is responsible for managing the common property. In fact that’s a nice simple definition of what a body corporate really is. Common property is the area that is not contained within the lot. That’s not really clear so lets look at some examples. Two Types Of Body Corporates There are two types […]
Unless stated otherwise all the information on this website relates to Queensland legislation.
