FAQs
Frequently Asked Questions
What is a Body Corporate?
A Body Corporate is a legal entity formed by the owners of a property complex, such as apartments, townhouses or commercial units.
A Body Corporate manages and maintains the property’s common areas and shared facilities, like gardens, recreational facilities and foyers. It ensures that these areas are kept in good condition for all residents to enjoy.
Why are Body Corporate fees necessary?
Body Corporate fees are essential for covering the costs associated with the upkeep of common areas, utilities, and shared services like cleaning, security, and maintenance.
These fees also contribute to a sinking or maintenance fund, which is used for future capital expenses like major repairs or renovations. Regularly paying your Body Corporate fees is crucial for maintaining the standard of living and property value for all owners.
What does a Body Corporate Manager do?
A Body Corporate Manager is a professional who specialises in the administration of the Body Corporate. They handle various tasks, including financial management, ensuring legal compliance, coordinating maintenance and repairs of common areas, managing records and correspondence, and facilitating meetings and communications among the owners in the body corporate.
Their role is critical in ensuring the smooth operation of the Body Corporate and resolving any disputes or issues that arise.
Why should I hire professional body corporate services?
Network Pacific, as a professional body corporate services provider, brings expertise in legal and regulatory matters, ensuring compliance and reducing the risk of legal issues. We also have experience in financial management, helping to budget for and manage expenses effectively. Additionally, professional body corporate services can enhance the overall maintenance and value of the property, ensuring a better living environment for residents and potentially increasing property values.
How does a Body Corporate make decisions?
Decisions within a Body Corporate are usually made during general meetings, which include the Annual General Meeting (AGM) and other special meetings.
All owners have the right to attend, discuss, and vote on various matters such as budgets, maintenance plans and to elect the members that form the committee of the Body Corporate. Decisions are typically made based on a majority vote.
What legislation regulates owners corporations and body corporates in Australia?
Local government regulations and building codes may also impact owners corporations, and owners corporations are often required to comply with both state/territory legislation and local regulations. Additionally, the by-laws established by the owners corporation play a crucial role in governing specific rules and regulations within a particular strata scheme.
What are owners corporation / body corporate rules or by laws?
- Common Property Usage: By-laws outline the rules for using and accessing common property areas. This can include regulations on noise levels, behaviour in shared spaces, and the use of amenities.
- Parking: By-laws may address parking arrangements, including the allocation of parking spaces, visitor parking, and restrictions on the use of common parking areas.
- Renovations and Alterations: By-laws often outline the process for obtaining approval for renovations or alterations to individual lots. This ensures that any changes comply with building standards and do not negatively affect the overall property.
Have any other questions?
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