Buying guide
What is a body corporate and how does it work?
If you buy an apartment or townhouse you may need to deal with a body corporate. Here’s everything you need to know
AI summary
When buying a unit title property like an apartment, you automatically join the body corporate. This legal entity, made up of all owners, is responsible for managing shared areas, maintenance, building insurance, and setting rules.
Owners pay annual body corporate fees, typically $4,000-$6,000, to cover these costs. Before purchasing, it is crucial to perform due diligence by reviewing financial records, meeting minutes, and the long-term maintenance plan. A lawyer's help is recommended to identify any potential issues.
How does a body corporate work?
How much are body corporate fees?
Your body corporate may limit the way you can use your property.
Body corporate rules explained
Buyer’s due diligence: how to find body corporate details
Always check the body corporate rules before buying an apartment.
Getting help reviewing your body corporate
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