A body corporate is a collective name given to all the owners of units and common property in a sectional title scheme, such as townhouses or apartments. This form of ownership is becoming increasingly popular in the real estate market, especially on the Gold Coast and through south east Queensland.
A Body Corporate is a legal entity and is formed as soon as a developer deposits their unit plan with the District Land Registrar in their local area. Once the plan has been registered, all unit owners are automatically members of the Body Corporate and must comply with the rules and regulations imposed by their Body Corporate.
Strata titled properties (units, townhouses and duplexes) are fast becoming the most popular form of residential property on the Gold Coast and through south east Queensland. If you are considering purchasing a strata titled property, it is important to understand the ins and outs of the body corporate and what your rights and obligations are as an owner.
What Are the Different Types of Body Corporate?
Generally speaking, there are two main types of body corporates: unit titled and community title. The former is a much smaller and more intimate version of the latter, where individual owners are members of the body corporate, while they own a lot, which includes their own unit or apartment within the complex, and also a share of the common property, which is the areas like gardens, pool, roads and lifts.
The differences between the two forms of ownership are relatively minor, but can make a difference to the way a body corporate operates and how you live in your building or property. Having a clear understanding of how the body corporate works and what your rights are as an owner is essential to ensuring that you are protected from potential conflicts.
What are the Different Roles of Body Corporate Lawyers?
As the name suggests, body corporate lawyers deal with the issues that arise within a body corporate and between individual bodies corporate, their committees, owners and letting agents. These may include matters such as breaches of the Body Corporate rules and regulations, misuse of the body corporate’s sinking fund, resolving conflict between owners and committees and other disputes amongst members.
Our team of expert Gold Coast Body Corporate Lawyers provide specialist advice and representation to lot owners, body corporate committees and their members, letting agents and caretakers, as well as body corporate managers. We work closely with a network of other specialists in the area to ensure our clients are adequately represented when it comes to addressing any issues that they may encounter.
Do I Need to Join a Body Corporate Committee?
A body corporate committee is made up of people who have a particular skill set or who want to use their skills to promote a sense of community within an apartment block. These people can range from seasoned property experts, to those who have a genuine desire to help others and create a nurturing environment for the residents who live in their complex.