4 posts tagged “body corporate”

"A call by debt collection agencies for reforms to the cost-recovery process for bodies corporate comes as apartment owners at a Brisbane building are locked in a legal fight with a resident, who had racked up a debt of more than $50,000 since 2004."

"In the Brisbane case, one of the owners in the 51-unit 1970s building on Leichhardt Street said that since 2004, the problem owner had not paid his strata fees or levies on time.

In two previous actions against him, one of the building's apartment owners, who did not want to be named for fear of retribution, said the problem owner ended up paying, with $20,000 of the $50,000 owed comprising legal fees.

"We have had two actions against him previously where he has paid on the steps of the court," they said.

"Because he is an ongoing serial pest, we should have some entitlement to say you are no longer entitled to be here."

The Australian

Interesting comment from another blog:

"I must admit I had no idea what I was doing when I bought my first apartment; Low fees meant I liked the building, without knowing anything financially about the building, I have since researched the other buildings I was also interested in, and to be honest I was just plain LUCKY I bought in the building I did, only after joining the committee did I realize we actually have a huge surplus as well as low fees ( that have actually gone down further since I bought)
I also think it's a huge mistakes for people who purchase an apartment or unit with a strata title, but fail to join the committee or even attend the AGM, Its probably their biggest investment they will ever make, but they don't care how, or who is running it."

Domain Blog

There are some buildings where there are a large number of owners who have not paid their body corporate levies for some time.  Typically, the owner is trying to sell the apartment, and so stops paying body corporate fees.  When buying, I recommend that it is good to search to see if the seller is behind on body corporate fees -- as this may indicate that the owner is desperate to sell.  I would also avoid buildings where there are a large percentage of owners behind in payments.  For example, there are a number of apartments in Aurora where body corporate levies have not been paid.

Many buildings are changing the way body corporate fees are allocated amougst unit owners, causing disputes when penthouse apartments end up with lower fees.

See Courier Mail