Frequently Asked Questions about Body Corporates (And How a Strata Title Management Services Team in
If you are a first-time owner in a strata property—a subdivision, apartment building, townhouse development or any other Community Title Scheme (CTS) where common areas (sidewalks, carparks, etc.) are shared among multiple owners—then you have probably encountered the term ‘body corporate.’ At Matthews Real Estate, we offer body corporate management services in Greenslopes, helping title holders in these property developments navigate the tricky labyrinth of strata title management.
What is a body corporate and what does being part of one mean for you? Below, we have answered some of the more frequently asked questions about body corporates and strata title management, to help you get a better hold on what to expect.
Body Corporates: The FAQ
- What is a body corporate? A body corporate is a legal entity created to help manage properties where lot or unit owners share the ownership and responsibility of common areas. Any property registered as a CTS has a body corporate, as one is created automatically to go along with the community scheme.
- Who takes on the responsibility of body corporate management? When a body corporate is created, the title holders of the development in question (e.g. the apartment building, subdivision or similar strata property) must nominate and elect several committee members to manage the entity. These committee members run meetings, arrange maintenance of common areas, collect fees and more. As strata title managers in Greenslopes, the team at Matthews Real Estate often takes on a role to help these committees handle the management of their bodies corporate.
- What are my rights as part of a body corporate? If you own a lot or unit in a CTS, you are also a member of the body corporate. As such, you have the right to attend any meeting of the body corporate—including meetings of all lot owners and meetings of committee members. Since a body corporate’s job is to manage the common areas of the strata property, you have the right to remain updated on any decisions to that effect—as well as to make your voice heard.
- What are my responsibilities as part of a body corporate? The answer to this question will depend on your role. If you are the chairperson, treasurer, secretary or officer of the body corporate, then you have responsibilities related to the strata title management of your Greenslopes development. If you are just a lot owner without a committee position, then your core responsibilities are paying fees and making sure you help keep common areas clean and maintained.
Should Your Body Corporate Hire Body Corporate Managers in Greenslopes?
Managing a body corporate can be a complex task—one that involves conducting meetings, following legislative regulations, collecting levies, organising the maintenance of common areas, protecting the interests of all lot and unit owners and more. There is a reason that many body corporates engage professional strata title management services in Greenslopes rather than shoulder all these burdens on their own.
If you are wondering about how a team of professional body corporate managers in Greenslopes might be able to help you and your fellow lot owners, you should speak with one of our representatives at Matthews Real Estate. We would be happy to tell you about what we do, how we help our clients and where the benefits lie for the members of your body corporate. To start a conversation, give us a call today on 07 3848 0655.