Guide to purchasing in a body corporate

Purchasing in a body corporate

A personal approach
to body corporate management

Relationships are the foundation of our business, built on the understanding that every client is unique, not just at a body corporate level, but as individuals.

That’s why we take the time to listen, tailoring our management approach to suit every person, their communication style and business preferences.

Receive an obligation
free building proposal

We'll need to get some details about your building. Let us know the best time to contact you.

Please contact us here if you are seeking a proposal for a building we don’t currently manage. If you are an existing BCsystems customer please email us at info@bcsystems.com.au

Purchasing within a body corporate can be an exciting journey, but it also requires careful consideration. Before you dive headfirst into purchasing a unit, it’s important to ensure that you’re well prepared. By following these steps, you’ll be better equipped to make a wise decision when purchasing a property within a body corporate.

1. Explore and connect

When purchasing in a body corporate, take the time to explore and connect with the community you’ll be living in. Here are a few things you can do:

  • Strike up conversations with current residents and the on-site manager or caretaker. They hold valuable insights about the community and can share their experiences and any concerns.
  • If you’re new to body corporate living in general, check out our Frequently Asked Questions (FAQs) for a comprehensive overview of what you need to know.

2. Seek the expertise of a solicitor

Navigating the ins and outs of buying into a body corporate can be overwhelming. Ease your stress by enlisting the help of an experienced solicitor. They will guide you through the process and ensure you make well informed decisions.

3. Check the records

You have the right to inspect the body corporate records, and here’s how to make the most of it:

  • Reviewing the records can be intimidating, especially if you’re not sure what to look for. Simplify the process by hiring a body corporate records search agent. They’ll do the legwork for you and provide a written report with valuable advice.
  • Keep an eye out for any alterations made to the property. It’s important to ensure they have been approved, as you may be responsible for rectifying any unauthorised changes.

4. Balance the levies

Understanding the financial aspects of your purchase is key. Consider these points:

  • When you buy a property within a body corporate, you inherit the previous owners levy balance. Factor in any financial adjustments during your property settlement.
  • Familiarise yourself with the levies associated with the body corporate, including ongoing maintenance costs and other expenses. This will help you plan your budget effectively.

You may want to consider checking out our Complete Guide to Body Corporate Levies to learn more about levies, how they are calculated, where they go, and what services they provide.

5. Announce your arrival

After the dust settles on your property settlement, don’t forget to notify the body corporate of your purchase. This simple step ensures that you will receive all correspondence and benefits that come with joining the body corporate.  

Share This Post

Subscribe To Our Newsletter

Is BCsystems your current body corporate manager?
You are

More To Explore

Communication
Committee advice

Communication Between the Committee and Residents: Striking a Balance

It’s essential to understand the boundaries and responsibilities of communication within a body corporate framework, as outlined by body corporate legislation. While committees can, and often do, acknowledge resident correspondence, they are not legally required to respond to every question or comment.

Like this article?

Follow us for more