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 […]
posted on September 29, 2014 by
Why Get A Strata Report?
Why get a strata report? There are two key reasons to check out a body corporate or owners corporation before your commit financially and finalise your purchase: cancellation / renegotiation of the deal or peace of mind the building is sound. Buying into a body corporate is not the same as buying a house. A […]
posted on July 15, 2014 by
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 […]
posted on May 13, 2014 by
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 […]
posted on March 17, 2014 by
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 […]
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 […]
posted on April 8, 2013 by
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 […]
posted on April 2, 2013 by
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 […]
posted on April 1, 2013 by
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 […]
Unless stated otherwise all the information on this website relates to Queensland legislation.
