An audit is an independent review of those financial records and statements of the body corporate to give a true and fair view of the body corporate’s financial position and determine whether there are any material errors or inconsistencies in the accounts.
Auditing: What Body Corporate Committees Need to Know Read More »
Body corporate levies are not optional. They’re critical to keeping your building maintained, insured, and operational. When even one owner fails to pay their levies on time, it affects everyone in the scheme. But what happens when you’re genuinely unable to meet your levy obligations? A payment plan could be your solution.
How to Request a Payment Plan on your Body Corporate Levies Read More »
Accurate and compliant record management is essential for operational efficiency and legal compliance, and failing to do so can lead to disputes, fines, and legal challenges.
Record Keeping for Bodies Corporate Read More »
This article covers land valuations within a body corporate scheme in Queensland, where each lot owner has a share of the scheme land.
Land valuations for body corporate Read More »
This article looks at the details of the body corporate bank account including why they’re required, who can open and manage them, and how the spending is authorised.
Body Corporate Bank Accounts Read More »
In this article, we look at the basics of body corporate budgeting, including how the budgets are prepared and approved, where and how the money is spent, and what you can do if you believe the budgets and levies are excessive or not enough.
The basics of body corporate budgeting Read More »
This article has been taken from he commissioner for the Body Corporate and Community Management Act and looks at spending limits in a body corporate – both committee spending limits and major spending limits.
Spending limits for a body corporate committee Read More »
In this article, we’ll provide you with a comprehensive explanation of sinking funds and emphasize their vital role in maintaining your body corporate’s upkeep.
Why you need a body corporate sinking fund Read More »
This article covers how levies are set, explaining the administrative fund, sinking fund and insurance fund levies.
How levies are set Read More »
Body corporate budgeting is done every year by the committee, with the help of the body corporate manager.
Body Corporate Budgeting Read More »