What is a Body Corporate?
When you purchase a unit, you automatically become a member of the body corporate. All unit owners in a unit title development make up the body corporate.
The body corporate is responsible for a range of management, financial and administrative matters relating to the common property and the unit title development as a whole.
The body corporate is an entity made up of all the unit owners in a unit title development - if you are a unit owner, then you are also a member of the body corporate. Every unit title development has a body corporate, whether or not the body corporate is functional. If you don’t have a functional body corporate, you need to contact Administrate so we can manage your body corporate to ensure it is functional.
Powers and duties
The body corporate is responsible for a range of management, financial and administrative matters relating to the common property and the unit title development as a whole. These functions mainly relate to the things all unit owners have a shared interest in – land, money, other property – which is why all unit owners are members of the body corporate.
The body corporate has a number of powers and duties, which are outlined in section 84 of the Act. Some of these include:
- managing, maintaining and repairing the common property, including common building elements and infrastructure that might not be common property
- establishing and maintaining a long-term maintenance plan
- keeping and maintaining a register of all unit owners
- calling general meetings of the body corporate
- keeping accurate financial statements
- taking out insurance that covers the development
- levying contributions on owners to fund the operation of the body corporate
- providing documents to unit owners, such as financial statements, meeting minutes and insurance details
- making and enforcing the body corporate operational rules.
The purpose of The Unit Titles Act 2010 is to provide a legal framework for the ownership and management of land and associated buildings and facilities on a socially and economically sustainable basis by communities of individual owners
Body corporate manager
Often a body corporate manager is contracted to perform some of the services of the body corporate on behalf of the unit owners.
Companies that provide professional body corporate services typically offer the following services:
- arranging maintenance of common property
- organising facilities for meetings
- administering the body corporate’s financial activities.
Appointing a body corporate manager does not in any way affect either the individual or collective property rights held by a unit owner.
Information sourced from Tenancy Services.