Auckland Body Corporate Lawyer – What Does A Body Corp Do
Apartment owners will know of a body corporate but what does it mean and how does it operate?
The article below gives some ideas on how an Auckland body corporate lawyer can help you and your fellow apartment residents.
Joining a Body Corp
You automatically become a member of the body corporate when you buy a unit. The body corporate is made up of all unit owners in a unit title development. The body corporate is in charge of the common property and the unit title development as a whole, as well as a variety of management, financial, and administrative issues.
The body corporate is made up of all of the unit owners in a unit title development; if you own a unit, you are a member of the body corporate. Whether or not the body corporate is operating, every unit title development has one. If you don’t have a functioning body corporate, you should contact a Auckland body corporate lawyer so that we can establish it for you.
Powers and Responsibilities
The body corporate is in charge of the common property and the unit title development as a whole, as well as a variety of management, financial, and administrative issues. These functions are primarily concerned with issues that all unit owners share – land, money, and other property – which is why all unit owners are members of the body corporate.
The Unit Titles Act 2010 gives the body corporate a range of authorities and responsibilities. Here are a few examples:
- establishing and maintaining a long-term maintenance plan
- keeping and maintaining a register of all unit owners
- calling general meetings of the body corporate
- keeping accurate financial statements
- taking out insurance that covers the development
- levying contributions on owners to fund the operation of the body corporate.
This was enacted to establish a legal framework for communities of individual owners to own and manage property, as well as accompanying structures and amenities, in a socially and economically sustainable manner.
Manager of the Body Corporate
A body corporate manager is frequently hired to fulfil part of the body corporate’s services on behalf of the unit owners.
Professional body corporate services companies often provide the following services:
- providing for the maintenance of shared property
- organising meeting spaces
- overseeing the body corporate’s financial activities.
The appointment of a body corporate management has no bearing on a unit owner’s individual or collective property rights.
Enforcing the Rules of The Body Corp
All unit owners are required to follow and adhere to the rules of the Body Corp. Some owners my not want to do so. For example, if there is expenditure on part of the building that does not directly benefit them, they may not be keen to pay their full levies.
However, in general, a condition of purchase is to adhere to the rules of the body corp. In effect, when someone signs a purchase agreement to a apartment, they are by association, agreeing to the body corp rules. It is also highly likely that they will have to sign a copy of those rules during the purchase process.
Auckland Body Corporate Lawyer – Summary
The idea of a body corporate is simple and beneficial to all occupants of a building. It is essential that the rules are well-written so that the administration can be a lot easier.
If your building does not have a set of rules, or they may be old and need reviewing, look for an Auckland body corporate lawyer, like McVeagh Fleming to help.