Duties of Repair and Maintenance
The body corporate has a duty to repair and maintain common property and building elements/infrastructure that relates to or serves more than one unit.
The body corporate may recover from an owner any cost incurred that relate to repairs and maintenance of building elements contained in a principal unit.
Disclosure When Selling a Unit
There are prescribed disclosure statements which an owner must provide when selling their unit. The disclosure statements must contain the prescribed information and be supplied within statutory timeframes.
- Pre-contract disclosure statement – to be provided to a buyer by the seller before they enter into an agreement.
- Pre-settlement disclosure statement – to be provided to a buyer by the seller no later than 5 working days before settlement.
- Additional disclosure statement – to be supplied at a buyers request either before the end of the 5th working day after the agreement for sale and purchase, or before the close of the 10th working day before the settlement date.
Contact us for assistance with the preparation of disclosure statements.
Body Corporate Operational Rules
All owners have a duty to comply with the operational rules of the body corporate. Owners are also responsible for their tenants and ensuring that they are aware of the rules. The rules are specific to the body corporate and deal with matters including the protection of common property, pets, noise, parking, and general hygiene.
Long Term Maintenance Plan
Every Body Corporate must establish and maintain a long term maintenance plan that covers a 10-year period and identifies future maintenance and estimated costs. The plan must be reviewed every three years, and is used to support the establishment and management of a long term maintenance fund to provide for the annual and future maintenance of the common property and share building/ infrastructure elements.
Annual General Meetings (AGM)
A Body Corporate must hold an AGM every calendar year. Premium Property Management will notify all owners in advance of this meeting by distributing meeting notices agendas, financial information, and all documents relevant to the meeting. All owners have a right to attend the AGM in person or by proxy, and may vote if their levies are fully paid up to date. We always look forward to meeting owners in person, and getting to know the people and the committee’s that we work with in order to achieve common goals.