Just a quick question regarding general body corp. what are the avg fees in brisbane area ? Also, to what extremes (high end/low end) in regard to properties in the 200-300k range have you seen?
thanks in advance
thanks in advance
Body Corp extremes
- Thread starter stgeorge5_8
- Start date
I have a unit on the Sunshine Coast in Kings Beach, in a block of 6. No pool or elevator (I purposely sought out one with neither of these), body corp is 1.5k per year. Also, when buying a unit in a block or complex, enquire about how healthy the sinking fund is before purchase. Ours has a very healthy sinking fund. If it doesn't, then any unexpected major repairs can involve putting the hat around to the owners for a one-off monetary top-up.
JIM
JIM
For standard unit and townhouse blocks expect to pay up to $1200 per year. The price will start going up as soon as pools, gyms, and lifts are added - can pay as high at $6500 p/a! I've had an experience with a larger unit block that was mostly tenanted where the vacating tenants would dump their unwanted furniture and rubbish in the common areas and the body corporate then had to hire some one to remove it. Of course this was an extra cost to our premiums.
I recently saw a one bedroom unit advertised for $112k, getting rental of $200pw. Wow, that would HAVE to be cash flow positive, I thought, so enquired of the agent. As well as the rates (around $1800) the body corp fees were around $5000. So that rental return doesn't really look that hot after all!
We have a few of these in Cairns...and we have a pool. B/C fees around $2800 pa.
