Establishing body corporates in larger developments or projects which are somewhat complex or innovative usually have critical issues which need to be planned for and addressed when planning and establishing the body corporate.
These issues can include:
- Titling structure i.e. how the subdivisions are done
- Multiple community title schemes and what the arrangement of the schemes is to be
- how different uses in the completed development are to be catered for
- Liability issues for developers.
Once the optimum arrangement and titling structure for your development has been established the body corporate management company will advise on the optimum arrangement providing the best possible outcomes and best options available as the project progresses. If poor structuring arrangements are chosen it can have both a negative impact on sales and lasting adverse effects for the owners in the development.
There are many steps and documentary requirements of the Body Corporate and Community Titles Act 1997 which your body corporate management company will manage and organize on your behalf. The body corporate management company will organize and liaise with sub-consultants such as Quantity Surveyors, Solicitors and Surveyors for specialist reports and services required to establish the body corporate.
As part of our service, we review and provide input on the below aspects, pre and post construction. These are generally drawn by your solicitor, however we are able to provide assistance with the following:
- Statement of future development
- Building management statements
- Community management statements and by-laws
- Allocation of exclusive use areas
- Onsite management agreements
- Deeds, easements and covenants
- Waste disposal arrangements
- Community facility layouts
- Body corporate assets (i.e. gym equipment, furniture, chattels)
- Budget for the principal and each subsidiary body corporate
- Statement of contributions showing the body corporate financial requirements for each lot
- Body corporate administration agreement
- Interest schedule lot entitlement
- Contribution schedule lot entitlement
- Defects schedule
- Work health and safety, Insurance valuations, Sinking fund and other compliance reports
We are also available to brief your sales team on the body corporate functions and layout.