I have purchased a unit, which is one of three.
The developer had already arranged body corporate insurance that covers the buildings and also public liability.
My question is, whose responsibility is it to set up a 'body corporate' with the other two owners to care for the common property? Is it the developers responsibility, or is it my responsibility?
Is it possible to arrange BC insurance without setting up a 'body corporate, as I suspect the developer has?
Finally, do people manage BC's themselves or pay a BC Organisation to administer the BC? What are other peoples experiences and preferences?
The developer had already arranged body corporate insurance that covers the buildings and also public liability.
My question is, whose responsibility is it to set up a 'body corporate' with the other two owners to care for the common property? Is it the developers responsibility, or is it my responsibility?
Is it possible to arrange BC insurance without setting up a 'body corporate, as I suspect the developer has?
Finally, do people manage BC's themselves or pay a BC Organisation to administer the BC? What are other peoples experiences and preferences?