Before getting started we should explain that an apartment or unit in the property world is called a Lot , if you have bought one or about to buy one you will be hearing this word a Lot (pun intended).
A Body Corporate is generally a group of people that have bought lots on a property that share common grounds and facilities that form a community, for example a townhouse development where each Lot shares a common driveway, gardens and recreational facilities.
In the CBD bodies corporate can consist of high rise residential apartment buildings and can be commercial buildings or mixed use complexes where there is a retail shop on the ground floor and apartments above.
You may have chosen to live or work in a body corporate community because you like the thought of living in the city, being part of a close knit community, or having access to great facilities you wouldn’t typically find in a house, like a pool, spa or tennis court.
These buildings or complexes are communities that are collectively managed by each owner of a Lot with responsibilities given by the government through laws which are different in each state and with the assistance of a Body Corporate Manager. If you live in a Community that sounds like this, you probably live in a Body Corporate.
For a link to read more of the topic click here to be taken to a government website with publications aboutBodies Corporate.
This is another link to download and read an introduction on Bodies Corporates in Queensland click here .
If you are ever in town or need questions about this answered give us a call on 13 000 MY BCM.
Written by Pedz