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
A body corporate is the legal entity for unit title properties like apartments, comprising all owners. It manages shared areas, sets rules, arranges building insurance, and creates a long-term maintenance plan.
This is funded by body corporate fees (levies) paid by owners, which often average $4,000-$6,000 annually. Before buying, it's crucial to conduct due diligence by reviewing financial records, meeting minutes, and rules to understand the building's financial health and any upcoming costs or 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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