What Is a Body Corporate and What Does It Do
A body corporate which is also known as an owner’s corporation is charge of the management of property including the building and the apartments.
12:57 30 December 2019
They come up with resolutions and ideas to make the property more efficient and suitable for everyone residing within the building. Decisions made by the owner’s corporation are joint and implemented to keep things in order as well as make sure the environment around the occupiers is safe and just. Here are some of the things that body corporates are in charge of.
Keep Track Sale and Purchases in The Building
It is important to know when properties are being sold and if any of them have been purchased as this is important to keep track of vacancies to ensure that such information can be relayed if there are people looking for apartments as well to keep track of resources being used.
Make Decisions Regarding the Property
The apartments, facilities and spaces concerning the building are important and need to be managed well and to do this there are certain decisions that need to be made with regards to renovations, using different systems to improve the building, issues within the building and other maintenance that may be required. A lot of decisions on how to make improvements are done during an annual general meeting where important votes and decisions are made for the upcoming year on how to improve the building, apartments and lives for everyone in the building.
Manage Maintenance and Conditions
When it comes to maintenance it is important that the body corporate keeps track of all the required maintenances that are needed such as repairs regarding water systems, electricity and the building itself. Most of the time, there will be changes made to improve conservation and this is tackled if applicable to the building. It is important that the condition of the building, facilities and the apartments within are taken in account as this affects the stay of the occupiers.
Discuss and Implementing Fees
There will always be costs for the building which depend on water usage, energy consumption and repairs needed as well as services for facilities. These are calculated accordingly and implemented to be charged to everyone that stays in the building based on their consumption and the basic maintenance and usage fees of facilities. Repairs, services and maintenance fees that will benefit all of the occupiers will be included in fees at a just price based on the needs of the building.
Creating Necessary Rules to Follow
Since several people will be living in the apartments, it is important that there are certain regulations also known as by-laws that uphold the comfortability and convenience of all of the people residing within the building. This includes the creation and implementation of rules regarding the proper usage of facilities, if pets are allowed and the responsibilities that should be met, behaviour when living within the building, noise levels and guests. Buy Melbourne Apartments Lukasz Holms notes that body corporates are important as they uphold the rights, safety and comfort of the occupiers in accordance pre-existing laws.
Attend Annual General Meetings
Members of a corporate body will be required to attend annual general meetings to discuss any problems, needs and improvements that will be done with or within the building. Members will discuss and later on vote on resolutions and any implementations that are to be done. In the event that a member is unable to attend the meeting, another person may be appointed to the meeting on your behalf.
A body corporate is in charge of a lot of things and their decisions have a huge impact on the lives of those who occupy the building. The decisions they make and rules they vote on will affect the way the building is maintained and how living within the building will change. The personal lives of the residents won’t be tampered with but anything regarding the building and its facilities will be subject to the decisions they implement.