Exactly what is a Body Corporate?
Your Body Corporate is the collective of every lot owner. Its formation occurs when the Scheme (building or complex) was initially registered at the Titles Office. It is the legal entity that owns and is responsible for the control of the common property, generally, other than inside lot owners’ units.
Every owner becomes a “member” of the Body Corporate from the time you purchase until the time you sell your lot within the Scheme. As a member the law sets out you contribute your portion of the operating expenses (Administration Fund) and future building capital repairs (Sinking Fund). You must comply with the law and By-Laws of the Scheme.
We encourage all owners to be involved and take an interest in the affairs of your investment in your building, large or small.
Making a levy payment?
Each Body Corporate offers the payment options shown on your levy notice which may include billing choices such as Bpay and StrataPay, EFT, credit cards, etc. To secure any discount or to avoid late-interest be aware some may not process the same day and may attract their transaction fee.
Legislation sets out a unit owner must keep the Body Corporate updated with their postal address recorded in the Roll of Owners. Changes to an address must be provided in writing, by letter, fax or signed email. Failure to update an address is no excuse for non-payment of contributions.
Download a Roll Update form here.
Generally your Body Corporate is lawfully required to insure all the built improvements for your Scheme and have a minimum of $10 million public liability.
In the event of claim being made on the Body Corporate insurance affecting your lot, you may be responsible for the payment of any applicable excess.
The Regulations define “building” as improvements and fixtures, however, this does not cover carpets, individual air conditioners, dishwashers, clothes dryers and the like.
You should insure these items in your contents or personal policy together with public liability insurance for the inside your lot. It's common sense owners insure contents with the same insurer as their Scheme to avoid potential gaps in coverage.
Insurance claims for vandalism or malicious damage must be reported to the police and a police report number required.
If you have upgraded your lot, you should disclose the nature and value of improvements to the Body Corporate. You may be required to pay any additional insurance premium for the increase value of your improvements. If you do not notify the Body Corporate, you may be required to meet the cost for any contribution required for replacement of those improvements under an insurance claim.
All contractors engaged by the Body Corporate or an individual owner must hold appropriate cover. Contractors are to provide a copy of a certificate of currency to the Body Corporate for their insurance prior to work commencing.
What is an Annual General Meeting?
Legislation requires every Scheme to convene a General Meeting annually at which the operating budgets are adopted, contributions set and a Committee elected.
A General Meeting adheres strictly to the circulated agenda. Owners may attend and vote in person OR by simply completing and returning their voting paper. Voting by paper allows you to have your say with very little effort.
Any owner may suggest an idea such as an upgrade or business item by proposing a motion for owners to vote upon.
Why have levies changed?
Prior to each Annual Meeting, the Body Corporate closely examines the finances of the Scheme and determines how much money will be required to operate for the coming year. Every owner receives the recommended budgets along with full financial statements, which form part of the AGM notice, to adopt at the AGM which allows owners to have the final say.
What is the Committee?
A Committee is elected at the AGM to meet periodically to represent the whole of the Body Corporate addressing issues affecting your Scheme and its operation. Smaller buildings might not meet often, where as for a larger complex, the Committee may meet several times a year. Any owner may nominate to be on the Committee.
One of the Committee is elected Chairman whose role is solely limited to chairing the meetings. From time to time it might be decided Committee members undertake particular tasks such as obtaining work quotes for supervising an upgrade of common property, liaising with a service provider, etc.
If I have termites?
We recommend all our client Body Corporates maintain adequate termite pest inspection and/or treatment regime. In most complexes it is the lot owners responsibility to ensure the interior (including all wall, floor and ceiling cavities) are adequately inspected and treated. Generally, a Body Corporate is not responsible for internal termite attack, treatment or repairs.
Need a Section 205 or other records search?
To comply with legislative requirements, we have a pre-approved panel of commercial searchers listed here.
Tel: 0412 646 410
Tel: 07 5529 6056
Austral Credit Control
Tel: 0414 804 080
Tel: 07 5520 0701
Tel: 07 5532 3599
Sun City Legal Services
Tel: 07 5495 7001