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faqs
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Where can I find out more about a body corporate?
For further information, please click on the following link to the Department of Tourism, Racing and Fair Trading.
http://www.dtftwid.qld.gov.au/Dispute+Resolution/BCCM
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What does a Body Corporate Manager do?
A body corporate manager eliminates the many tasks and doubts from unit owners who otherwise would carry out the running of the building. Managers can be appointed to prepare, attend and take minutes of meetings, pay accounts, collect levies, arrange maintenance and repairs and attend to the correspondence of a body corporate. An experienced manager can reduce costs and ensure that all statutory requirements are met.
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How much will it cost?
Appointing a body corporate manager should be seem as an investment, that in the long term will enhance your property asset. At Barard, our fees vary according to the size and complexity of the building. A scheme with conjoined bodies corporate, mixed use units and multiple financial accounting is more time consuming to manage than a two-storey walk up.
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What happens to the Committee?
A body corporate manager is only appointed to carry out certain powers of the executive of the committee. A committee is elected each year at the annual general meeting and this committee remains in office until the next general meeting. The body corporate manager’s appointment requires the committee to issue instructions and directions on how the limited powers must be performed.
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Who chairs meetings?
The elected chairperson is required in law to chair annual general meetings, extraordinary general meetings and committee meetings. If the chairperson is absent from the meeting those present at the meeting are required to appoint one of their number to preside over the meeting. A body corporate manager who has been appointed to act as chairperson can assist a sitting chairperson in his absence, and act as chairperson at the meeting.
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How much will my body corporate levies be and what happens if other owners do not pay?
A body corporate manager’s appointment to carry out the powers of a treasurer includes the preparation of the annual budgets from the existing costs and forecasts. The levies paid by unit owners pay for the current years bills, including insurance premiums, maintenance and repairs, administration and electricity. Items within the budgets and the total expected expenditure are discussed and voted on at each annual general meeting. The proportion of the total expected expenditure that each owner has to pay is dependent on the "lot entitlements" as set out in the Community Management Statement of the scheme.
Owners who are unable to pay their levies are required to enter into an agreed payment program. The levies must be paid. In rare circumstances, debts to a body corporate can be recovered in a Magistrates Court.
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Is it necessary to have a Sinking Fund?
At each annual general meeting, the law requires that an Administrative Fund Budget and a Sinking Fund Budget must be adopted by the Body Corporate. The Administrative Fund Budget is prepared on the day to day expenses of the Body Corporate.
The Sinking Fund Budget is based on the projected major capital expenditure for the current financial year, plus anticipated expenditure of a capital or non-recurrent nature for a least the next 9 years (10 years in total). This expenditure includes painting common property, structural repairs (in a building format plan) and replacement of major items such as swimming pool liners, roadway surfaces, gym equipment and underground pipes and wires.
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How are By-laws enforced?
The By-laws form part of the Community Management Statement (CMS) of the body corporate. The law provides that a CMS is binding on owners and tenants. Only the By-laws in the CMS are enforceable. Following a letter of complaint by the body corporate manager, the Committee may require a notice called a "Contravention of By-laws" to be served on an offender. If it is expected that the By-law might continually be breached, a notice called a "Continuing Contravention of By-laws" to be served on the offender. In cases where the notice is ignored, a body corporate, with the authority of a resolution in general meeting, may enforce the notice in a Magistrates Court.
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How do I know that my building is insured for replacement value?
The law requires that a body corporate must have building(s) with common walls insured for replacement value. Barard recommends obtaining from a quantity surveyor an assessment of the replacement and reinstatement value of your scheme on a regular basis.
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Is a lot owner able to vote at a General Meeting if their levies are in arrears?
The law forbids a lot owner from voting on ordinary resolutions and special resolutions if the lot owner’s levies are in arrears. However for resolutions without dissent, a lot owner may vote at a general meeting.
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