ACE Body Corporate Management

ABOUT BODY CORPORATES
I have included this insert from our company website www.acebodycorp.com.au and attached some helpful links in a previous comment to help people get acquainted with bodies corporate.


Welcome to Community Living
If you own a property with a body corporate you are part of the growing trend towards community living where you retain the benefits of privacy and lifestyle without the work and responsibilities of a larger property. Most of these community living properties have a "body corporate" which looks after caretaking, grounds maintenance and provides peace of mind on matters of insurance and the management of "common property". When managed by a professional body corporate manager, your body corporate will provide maximum value and service to you. We hope the following information will assist you in understanding more about bodies corporate.


What is a body corporate?
The process of subdivision of a property for multi-unit development results in the need for a "body" to manage common ownership aspects of the property. On registration of a Plan of Subdivision a "Body Corporate" becomes incorporated. Bodies Corporate are regulated by legislation that has undergone many revisions both to deal with the changing property ownership trends and to adjust to the continually evolving body of knowledge and experience gained from regulating the industry. Relevant legislation includes The Subdivision Act 1988 and the Subdivision (Body Corporate) Regulations 2001.


As an owner, what part do I play?
If you are the owner of a unit in a property that has a body corporate, you are a "member" of that body corporate. When a lot is sold, the new owner becomes a member. A tenant paying rent to an owner is not a member of the body corporate and does not generally interact with the body corporate. The body corporate is responsible for a range of compliance, financial, insurance and essential services matters.
These responsibilities are usual