Cost conscious Committees may sometimes believe an insurance valuation is unnecessary or they believe their insurer is providing this valuation. The requirement under the Act states an independent insurance valuation must be undertaken once every five years. Insurance companies and insurance brokers could be considered independent, but these organisations do not furnish a Body Corporate […]
Sadly, this month we had to deal with a devastating event when a lot in one of the Bodies Corporate that we manage burnt down. Fortunately, functioning smoke alarms alerted the occupiers to danger and the family exited quickly and safely, immediately calling the fire brigade. The family was shocked at how quickly the fire […]
This month we are working for a new client who until recently owned all the lots in a Body Corporate. The client was not the original owner of the property and the property was at least fifteen years old. In these situations, the existance of the Body Corporate is often ignored and the sole owner manages the […]
Last month, we took over a scheme that was being administered by a well known Brisbane Body Corporate Manager who shall remain nameless. Four of the lots in the scheme were needing major renovation of a lintel that was rusted. The estimated contract works was ~ $70-80,000. The Body Corporate Manager was expecting to raise a special levy […]
When a relationship between a Body Corporate Manager and a Committee breaks down, there is often considerable time and effort expended by both the Committee and the Body Corporate Manager to address the problems. The final outcome is often that any existing contract is discontinued. Committees can get shocked when the records are finally handed over and […]
Recently we received a new client using three different bank accounts. One for levies, one for admin fund and one for sinking fund. Hundreds of transactions between three different accounts quickly pile up into a complicated tangle that will take ages to unravel come EOFY. This system is both complex and unnecessary! With sophisticated software […]
We started to help prepare information needed by a Body Corporate to complete their tax return. The Australian taxation office has recognised that these tax returns are usually very simple and have developed a short form tax return that is very easy to understand and complete. You can download it from here.
As one Queensland Body Corporate recently experienced, the term of a contract can be highly significant when considering a motion for a contractor engagement. The Queensland BCCM Commissioner passed down a decision which highlights the necessity for owners to be wary and knowledgeable about their rights. Northcliffe’s Body Corporate manager breached the requirements … in relation to […]
A Body Coporate that we manage in Taringa has recently raised the issue of smoking. This is a common issue which frequently arises in our managed schemes; what measure of control does the Body Corporate have over smoking? While by-laws regulating smoking in Queensland community titles schemes may be passed, they are unable to prohibit the activity […]
We just got a letter from Urban Utilities suggesting that a Body Corporate that we manage has a water leak. We take such a letter very seriously because we know that water leaks can be very expensive. However, in this case, the Body Corporate was a relatively new development. The automatic letter generated by the Urban Utilities computer […]