Body Corporate Questions

Can someone enlighten me on a couple of Body Corporate questions? 4 unit complex in Qld.

1 How do I get a copy of the Body Corporate By-laws?
2 Should a copy be supplied with the signed contract from the REA?
3 Do the by-laws dictate when the AGM is/should be held?
4 Are the financials for the Body Corporate based as 1/7 to 30/6 financial year?
5 When (as an owner of a unit) will I receive a copy of the Body Corporate financials? With notification of the AGM?
6 Is is usual for a unit owner to also be the Body Corporate Manager in such a small group of units?

Thanks for your help.
 
1 How do I get a copy of the Body Corporate By-laws?

From the Strata/BC Manager

2 Should a copy be supplied with the signed contract from the REA?

The REA should have the info available to you prior to signing contact. If not your solicitor can provide you a copy when they do all the relevent searches.

3 Do the by-laws dictate when the AGM is/should be held?

Last AGM minutes will show date, time & location AGM took place. You usually get notice of next AGM a month out from proposed meeting.

4 Are the financials for the Body Corporate based as 1/7 to 30/6 financial year?

Yes all mine are.

5 When (as an owner of a unit) will I receive a copy of the Body Corporate financials? With notification of the AGM?

With proposed AGM agenda & prior to signing contract.

6 Is is usual for a unit owner to also be the Body Corporate Manager in such a small group of units?

Can be a owner or professional manager.


Hope this helps
 
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4 Are the financials for the Body Corporate based as 1/7 to 30/6 financial year?

No it depends on when the first AGM was.
 
As the owner of City Body Corporate in Brisbane I might be able to answer a few of these for you:

Can someone enlighten me on a couple of Body Corporate questions? 4 unit complex in Qld.

A) As the number of units in the block is less than 5 there is no actual need to have formed a Body Corporate in Qld. It may well be that the owner is running it himself.

1 How do I get a copy of the Body Corporate By-laws?

A) Dependant on above will determine where if relevant you can obtain a copy of the By-laws. Normally a newly formed BC will adopt the standard conditions with certain mention to the common areas.

2 Should a copy be supplied with the signed contract from the REA?

A) No in Qld this is not a requirement and would come from the a search of the Body Corporate records if applicable.

3 Do the by-laws dictate when the AGM is/should be held?

A) No.

4 Are the financials for the Body Corporate based as 1/7 to 30/6 financial year?

A) No depends on the date when the Body Corporate was formed.

5 When (as an owner of a unit) will I receive a copy of the Body Corporate financials? With notification of the AGM?

A) Depends on the above situation.

6 Is is usual for a unit owner to also be the Body Corporate Manager in such a small group of units?

A) See first response.

If you wish us to have a look at the Body Corporate Bylaws or BC Management Agreement would be happy to do so.
 
Hi Everybody and thank you all so vey much for your informative responses.

Richard, thank you for your offer. I had received some advice that a body corporate was not essential for a block of 4 units however have confirmation that the units have been registered under the CTS scheme. I will now wait for notification of the AGM and see how things go. :)
 
. I had received some advice that a body corporate was not essential for a block of 4 units however have confirmation that the units have been registered under the CTS scheme. :)

I would be interested to know if it is really necessary for a block of 4 to have a Body Corporate. I own a block of 4, they are strata'd, but there is no Body Corporate. If we plan to sell at any time is a Body Corporate necessary?
 
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