Before buying a property within a community title scheme reach out to our body corporate lawyers, to ensure that you fully understand and are mindful of the structure, risks, and costs that are associated with the complex. Gaining expert legal advice from our body corporate lawyers who will relieve you from the complexities of the transaction so you can focus on enjoying your new property.
All ‘community title schemes’ e.g. townhouses, apartment complexes, high-rise condominiums, strata title retail, and industrial precincts – have common features. Because each one is customized by its developer to achieve the desired outcome for that particular project, each community title scheme is unique and may contain unexpected owner obligations.
Our expertise in community title and body corporate issues gives developers and buyers a substantial value add in the establishment of community title schemes and their operation and management.
The Body Corporate and Community Management Act 1997 (Qld) provides for flexible and contemporary communally based arrangements for the use of freehold land. – QLD Legislation
Community Title
There are over 47,000 community title schemes and over 565,000 individual community title lots in Queensland.
The objective of the regulations that apply to such schemes is to balance the rights of individuals with the responsibility of management for the mutual benefit of all body corporate members. This is largely achieved by establishing flexibility in the administrative and management arrangements that owners may adopt.
One feature common to all community title schemes is the control and management on behalf of all lot owners, the common property and body corporate assets.
Body Corporate
A body corporate is a managing body formed when a community title scheme is created. When you become an owner of a property in a community title scheme, you automatically become a member of the body corporate.
The body corporate is responsible for maintaining and insuring the property (mainly the building and the common property) as well as overseeing that the rules are adhered to within the community. The body corporate of each and every community title scheme is regulated through the Body Corporate and Community Management Act (BCCM) which sets out the rights and responsibilities of body corporate members.
A legal entity in its own right, the body corporate’s responsibilities include:-
- Maintenance of the building and common property;
- Determination of the charges levied upon the owners in the administration fund and the sinking fund;
- Creating and applying communal by-laws which apply to conduct etc on the premises;
- Securing cbuilding insurance and the common property’s community risk assurance;
- Security and management of assets;
- Administration of body corporate affairs and compliance with the BCCM.
By-laws and Levies
As an owner in a community title scheme, you will need to abide by by-laws that differ from scheme to scheme and pay levies. By-laws are additional rules and regulations that are applicable to your individual scheme. They are used to regulate the behaviour of the owners and tenants of each lot and can cover a range of issues such as pets, noise and parking.
In a community title, every owner contributes to the day to day running of the scheme by paying regular levies. The levies can vary from different schemes depending on the age and condition of the building and common areas.
Before you purchase a community title property, it is important to consider the additional levy and fee charges that follow your purchase and to gain legal advice from an experienced solicitor.
Off-the-plan unit purchases
Because these deals involve the acquisition of something that does not exist at the date of the contract, special attention is required to ensure both buyer and seller understand the obligations of each party. plans, specifications, management arrangements, bylaws, and caretaking roles must all be documented and interpreted at the time of the transaction.
Off-the-plan community title contracts are highly regulated and expert attention from experienced body corporate lawyers is essential on both sides of the transaction.
If you are seeking advice about your body corporate rights and obligations, or if you would like to address any other aspects of body corporate law, call our office on 1300 590 613 to get advice from our body corporate lawyers to your particular circumstances.