Understanding the corporate body and its services is essential when it comes to property investment. This is because the corporate body is responsible for maintaining common property areas and ensuring all residents within the complex follow the set rules and regulations. This article will discuss everything you need to know about corporate body services. We will cover what they are, what they do, and how you can benefit from their services.
What They Are
A body corporate is an organisation that represents all the owners of units within a strata scheme or community titles scheme. They are responsible for managing and maintaining common property areas and enforcing any rules and regulations set by the owners. Additionally, they also have the power to levy fees on owners for the upkeep of common property areas.
What They Do
The primary role of a body corporate is to manage and maintain common property areas within a strata scheme or community titles scheme. This includes ensuring that all residents follow the set rules and regulations and levying fees for the upkeep of common property areas. Additionally, they also have the power to make decisions on behalf of all owners within the scheme.
How You Can Benefit From Their Services
There are many benefits to utilising body corporate services, especially if you own a unit within a strata scheme or community titles scheme. Firstly, you will no longer have to worry about managing and maintaining common property areas yourself. This can be a great relief, especially if you are unfamiliar with the relevant laws and regulations. Additionally, by utilising their services, you can be sure that your common property areas are being managed and maintained by professionals. This means that they will be able to spot any potential problems early on and take steps to fix them before they cause any significant damage.
How You Can Benefit From Their Services
There are many benefits to having a corporate body, both for individual unit owners and the complex. For unit owners, it means having someone to take care of the common areas and deal with any problems that may arise. This can free up time and energy to focus on other things, such as work or hobbies. For the complex, having a corporate body can help increase property values and make the complex more attractive to potential buyers or renters.
If you live in a strata-titled property, chances are you already have a corporate body. But if you’re not sure what they do or how they can benefit you, hopefully, this article has cleared things up for you. If you have any further questions, feel free to contact your body corporate services manager or another strata committee member.
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