Recovering an existing body corporate in Qld
Have you just bought a unit/lot and found out there is no body corporate in place? Maybe you are the sole owner of an entire body corporate and intend (or already) have sold off one or more of the lots. The records are lost or in a bad state. Perhaps the body corporate has never functioned at all! You need help…
Let Tracsafe recover your body corporate (no matter where you are in Queensland). We will –
- Establish a committee and prepare general meeting documentation including a budget and levies.
- Assist you to select contractors for valuations, insurance, sinking fund forecasts, etc.
- Recover the Community Management Statement if lost (additional fee applies).
- Establish body corporate records as required by the legislation.
- Establish a bank account of the body corporate.
- Set up the Tracsafe web portal to support all lot owner functions.
- Convene and minute an EGM or AGM.
- Issue instalment notices.
- Act as your body corporate manager for a maximum of three months or until AGM/EGM.
We will use Tracsafe’s DIY-BC software service to complete the tasks listed above. After that, your options are –
- Self manage using our DIY-BC body corporate software (first year free).
- Engage us as your body corporate manager.
- Engage us as your bookkeeper.
- Engage an alternative body corporate manager.
During the re-establishment process, we will give guidance on the different options described above or have a look at our comparison chart for a start.
When and how should we proceed
Talk to the other lot owners. All lot owners must agree and sign the body corporate recovery contract which can be downloaded directly. Order our service online, pay our fee, send us the signed contract page, and we will get cracking.
Any third party charges are not an inclusion of the price. Please review our contract terms. This service is only valid for bodies corporate with ten lots or less. If your body corporate has more than ten lots, please call to discuss a customised price.
Typically, we find that duplexes are the most common user of this service when it is discovered by a lot purchaser(usually the conveyancing team) that the lot is part of a body corporate! We recommend conversion to the ‘Two Lot’ regulation for all duplexes during the recovery process. This is an optional inclusion that will remove almost all of the future red tape for the duplexes owners. The price for this service also includes the Titles Office charges for registering the new CMS.