Developers/New buyers

Developers:                                                     

Before Settlement:

We will assist developers with the following as required:

- Draft budgets & set levies for a 12 month period  

- Prepare appropriate by-laws, lot entitlements.             

- Quotations for Building Insurance/10 Year Sinking Fund Forecast/Insurance Valuation.  

- Work hand in hand with Solicitors, Site Engineers re plans.                                        

After Settlement                                                                 

-  Insurances  

- Purchase of common seal.  

- Registration for ABN/TFN and GST. 

- Calling the Inaugural General Meeting , attending and preparation of  Minutes  

- Open bank account for the new body corporate

We then will manage the new complex as required, and assist the new lot owners to run the complex in line with the BCCM Act 1997. Offering assistance and guidance and education so that the new owners can manage their affairs, with confidence. We will also act as a liason between the new owners and the builder/developer to assist in any maintenance issues which may need attention after the settlement. As per current Building Legislation. See BSA Website on Contact register for further details.  

NEW BUYERS:

Buying a property that is strata titled is very different to purchasing one that is not.  In many cases, those with no previous experience in the bodies corporate, are not fully aware of the differences between strata living and residing in a normal house.  We advise that you gain as much information as you can from your Real Estate agent and Solicitor, or the lot owner who is selling the lot or friends and family who may already live or have experience in how bodies corporate function. 

Ask about things that are relevant to you. We have listed some frequently asked questions by propective new lot owners??:

Can we have animals? How many visitors carparks are there. Where can we park. What are the By Laws. How much are the levies. How old is the building, are there any major works to be completed. What items are covered in the Building Insurance policy and do I need to have Insurance myself. Am I responsible to maintain any areas of my lot. What is the body corporate responsible for and what am I responsible for. These of course are only a few of the questions that need clarification. All these questions if asked at the beginning can eliminate a lot of concerns later down the track for all parties concerned.

New owners are reminded  that you may living in a community, close to other lots, which of cause brings the normal problems associated with parties living in close proximity. Bodies corporate are governed by By Laws, which protect the lot owner/occupiers. These By laws are also there to up hold the integrity of the complex. Keeping everything uniform and protecting all parties concerned. What one person deems to be acceptable is not to another.

Pest & Building Inspection

We highly recommend that you have a Pest & Building Inspection conducted by a authorised tradesperson, to locate any problems which may be present before contract settles. Bodies corporate are not always responsible for correction of these items, as each body corporate structure is different. Some areas are 'Exclusive use' and lot owners are responsible to maintain these areas. Being active before settlement and understanding the lot owners responsibilities and yours before settlement, can save a lot of concerns and money down the track. You may contact us if in doubt or see REIQ website &  Gary Fulton Solicitors website for professional advise if you require further assistance, details located on our contact register.