What are the roles within a Body Corporate?

Описание: Looking to buy a townhouse, villa or unit? If so, you will hear the term “body corporate”, “owners corporation” and “strata committee”.

The owners corporation is also known as the body corporate. This is made up of all owners in a community titles scheme. So, when you buy a home in this instance, you are automatically part of the owners corporation.

The corporation is responsible for decisions on things like repairs and maintenance of common property such as gardens, swimming pools, driveways; as well as other decisions including insurance, finances, by-laws, appointing a strata manager and more.

Each year, at the annual general meeting, you have the opportunity to be elected on the strata committee. Being a member of the committee means you can help make decisions about the strata scheme.

Owners can nominate one person for election for each property they own in the scheme. Key roles within the committee include Chairperson, Secretary and Treasurer.

The chairperson runs the meetings and oversees the administration.

The secretary is responsible for organising meetings, preparing the agenda, taking the minutes as well as managing admin correspondence.

.. and, as you might guess, the treasurer keeps accounting records and issues levy notices and approves invoices to be paid.

Many of these tasks may be undertaken by a strata manager, with the committee’s approval.

There are benefits to being on the committee, particularly if you are interested in the maintenance of the property. After all, a well-maintained property can influence the value of a property when it comes to selling.

My team and I have extensive experience in buying strata scheme properties for our clients. There are several things to look out for in the process and we can certainly help ask the right questions on your behalf. Also, you can find other questions we’ve answered on strata scheme properties via our website at portershouse.com.au.

If you have another burning real estate question you’d like answered, please email it through via portershouse.com.au or send a DM via our socials. We’ll make sure we can help provide you with the answer.