Legal (Page 2)

Managers of management rights businesses have lots to do daily, weekly and monthly, not to mention all the additional requirements the past few years has brought about, so it’s easy to see how managers could overlook the key dates in their agreements. We are here to remind you, that it is time to grab your agreements and check all your key date and set some reminders. Key Date 1: Remuneration Reviews Some body corporate managers will automatically review a caretaker’s remuneration at the time stated in the agreement. Other body corporate managers will not. Managers seeking to ensure their remuneration is properly increased in accordanceRead More →

The final matter is the adjustment of the income from the letting business (i.e., letting commissions and other income). These adjustments are usually agreed upon between you and the Seller at the pre-settlement tuition. I do not have access to the books of the business, and as such, they remain your responsibility. As such, I advise you of your legal position as follows: You may wish to adjust each item individually or agree on a general figure based on the estimated monthly income of the business. Your desired method of adjustment is something that should be discussed with and agreed to with the Seller duringRead More →

Three things to know about pet approvals: Further updates to strata pet regulations in Queensland The ink is barely dry on the new legislation governing strata in Queensland and regulations governing pets have already been further refined, in favour of pets. Where previously a body corporate committee had 6 weeks to respond to an application for a pet to be kept in a lot, the prescribed period for a committee to consider a pet request has been shortened to 21 days. If the committee does not make a decision within the prescribed period, the pet is deemed to be approved.  Alternatively, if a general meetingRead More →