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Body Corporate (Page 2)

In: Body Corporate, Legal

Contributed By: Kristine Lehmann of Lehmann Rights on

Kristine Lehmann, the principal of Lehmann Rights has kindly provided us with a series of really great industry discussions between herself and a number of industry leading experts. These are great, easily digestible 5 minute chats that offer some wonderful and current insight for those in and looking to enter this market. We’ll be bringing you a new one of these with each issue for the next couple of months.Read More →

In: Body Corporate, Legal

Contributed By: Todd Garsden of Mahoneys Lawyers And Advisors on

The interim orders in Watermark Residences [2020] QBCCMCmr 306 provides some relief for bodies corporate that held virtual general meetings during the COVID-19 restrictions. In summary: The body corporate called an extraordinary general meeting (EGM) to agree on the matters that needed to be decided at a general meeting. To meet COVID-19 social distancing restrictions the committee decided to conduct the EGM without physical attendance. There were some other minor deficiencies with how the EGM was called, and was to be held, that did not strictly comply with the legislative requirements of holding meetings. A group of owners sought to invalidate the EGM based on the failureRead More →

In: Body Corporate

Contributed By: Hynes Legal on

In the midst of the COVID-19 pandemic, the strata sector is facing some big issues. Perhaps the biggest challenge (this week at least) is how to manage body corporate levies and other financial issues at a time when people are under all sorts of financial pressure. It can be hard enough to get people to pay strata levies when they have the money, let alone when they do not. We think it is essential to identify the pain points for everyone in the sector when it comes to levies and then identify what can be done about it. There are a few points to make,Read More →

In: Body Corporate, Legal

Contributed By: Hynes Legal on

I want to give people some insight as to my reasons for joining Hynes Legal and in particular, why I strongly believe the strata industry needs a mediation offering to help reduce the instance of strata disputes in the Commissioner’s Office and QCAT. I’ll begin with a question I’ve been asked a few times since starting with Hynes in February 2020: why would someone pay you to do something that you previously did for free? It’s because of cases like this one. In summary, it’s a dispute heard in the Queensland Civil and Administrative Tribunal about management rights. In total, both sides – the bodyRead More →

In: Body Corporate

Contributed By: TheOnsiteManager on

One of our core services at TheOnsiteManager.com.au is to assist managers selling properties within their complex. This is a vital service for managers as it allows them to grow and retain their letting pool, compete and guard against outside agents, and generate additional (and considerable) revenue through sales commissions. To this end, we provide all the tools, databases, contracts and paperwork needed by the manager. We also allow the manager to market the sale on all the major portals around the country. We don’t charge any commission (at all!) to do this which makes our service hugely popular with over 370 managers engaging our agencyRead More →

In: Body Corporate, Legal

Contributed By: John Punch of Short Punch & Greatorix Lawyers on

Lawyers acting for buyers of Management Rights are often faced with the task of trying to explain to their clients problems which they may face as a result of badly worded Caretaking and Letting Agreements.  Much of this could be avoided if developers and their advisers took more care in preparing these agreements. Developers have a golden opportunity to set up Management Rights in a way that will not create difficulties for building managers. The developer is in complete control of the Body Corporate at the time the original Caretaking and Letting Agreements are put in place.  Unfortunately where the developer’s lawyers are not managementRead More →

In: Body Corporate, Landlords, Tenants, Renting and Management

Contributed By: Nick Buick on

I recently purchased a Telsa X to replace my Rangerover. In the last year of use, my beloved V8 Supercharged Autobiography cost me over $18,000 in servicing maintenance and fuel. Enough was enough. I never wanted to pay for fuel, maintenance or servicing ever again, so I called up my local Telsa dealer, ordered a car, and a week later it was sitting in my driveway. What impact will these EVs have on Body Corporates as more and more take to our roads? Having now owned a Telsa for six months, I have never felt more comfortable about my decision! The car is incredible. ItRead More →

In: Accounting and Finance, Body Corporate, Legal, The Management Rights Market

Contributed By: Hynes Legal on

Back when real estate wasn’t as expensive, multipliers weren’t as high and banks didn’t care as much about serviceability as they did security, buying a lot with a business all worked without much of an issue. That has changed (noticeably for high value real estate with shorter term management rights agreements), which has led to us receiving lots of requests from clients about separating their lot from their management rights business.  Every management rights business is different. There are no hard and fast rules, but in general terms, these are the issues that come if you want to consider doing breaking that link. Let’s startRead More →

In: Body Corporate, Legal

Contributed By: Hynes Legal on

The question about how to adjust contribution schedule lot entitlements (‘the CSLE’) that has been kicking around strataland since September 2012 has finally been put to rest. The complete article we wrote on the issue at the time is here. In practical terms, no one will be able to adjust the CSLE unless there is a resolution without dissent at a general meeting. This is a resolution which no one votes against (as opposed to one which everyone votes for). Any CLSE adjustment means that some levies will go up and others will go down because the body corporate budget never changes. What adjusting lot entitlementsRead More →

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