3 Common Body Corporate Committee Issues That Will Affect All Lot Owners
It’s a common myth that the body corporate manager is in charge of a body corporate, so much so that it often comes as a surprise for those new to strata schemes that it’s actually a Committee who have the power and responsibility; well the Committee along with all the lot owners. One of the offshoots of […]
6 Things I Learnt About Financial Planning Working With An Adviser
Before I launched into the world of body corporates I was a small business manager. My particular expertise is office systems. I’ve been blessed to work at a number of very small businesses in an administrative role, and have learnt many different systems for managing workflow. Last year an opportunity arose for me to use those skills […]
Body Corporate Regulation Module: What Is It & Why You Should Be Wary Of Change
Body corporate regulation modules were created under the BCCM Act 1997 to define how a building is managed. There are five body corporate regulation modules at present: standard, accommodation, commercial, small schemes and two lot. This article is about what regulation modules are and why you should be wary if your body corporate wants to […]
What Is A Body Corporate Sinking Fund Forecast?
Whenever I prepare a strata report one of the few documents I always include is a copy of the Sinking Fund Forecast. I do that for a very specific reason; they’ve a valuable source of a lot of information about the strata scheme, the Sinking Fund and management. What Is A Sinking Fund Forecast? A […]
What is Proxy Farming?
Proxy farming is a charming phrase to describe a practice that polarises body corporates. It’s all about the balance of power, who has it, who wants it and what they want to do with it. Sadly that can quite often be “get up to no good” or the ever popular “arrange things to suit ME”. […]
What is a Body Corporate?
Ask most people “what is a body corporate?” and, well, you’ll probably get a lot of different answers, the most common being a general wave toward the nearest visible highrise. But that’s an assumption, and also a clear indication that the person you’re speaking with doesn’t really have much of an idea of what a […]
Body Corporate Disputes: Who Are These People?
One of the key strengths of body corporates is the ability to build a community, a place where people feel safe, connected and involved. Communities are all about people. And therein lies the problem. We all know people we like, and those we don’t, people we respect and people who just flat out make us […]
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 […]
5 Persistent Myths About Body Corporates
read a lot of body corporate records. Those records comprise everything from official documents to professional reports, minutes and of course correspondence. I can safely say, after all this reading, people have some really strange ideas about body corporates. Mostly those ideas are pretty benign, sometimes hilariously funny and in the end don’t make any […]
Do I Need A Section 206 Disclosure Statement For My Duplex?
A duplex is defined as a house divided into two lots, each with it’s own entrance. Most, though not all, duplexes are characterised by joint wall(s) somewhere in the building. Just because there are two lots in a duplex doesn’t necessarily mean there are two titles and the lots can be sold separately. Quite the […]