The Body Corporate Handbook

Population growth, rising property prices and the dream of a new lifestyle have made body corporate living more and more popular in Australia. Living in an apartment, unit or townhouse can be a rewarding experience, but body corporate life can also be confusing. In this book, expert author Stephen Raff clarifies the rules and answers vital questions such as:

• What should I look out for when buying a strata property?
• What are the responsibilities of the body corporate, owners and tenants?
• How do committee meetings work?
• What fees will I have to pay?
• Who takes care of maintenance?
• What happens if I get into a dispute?

Packed with revealing case studies and state-specific information, The Body Corporate Handbook is a comprehensive guide to every aspect of strata life for owner-occupiers, tenants and investors.

About the author vii

Acknowledgements ix

Preface xi

Chapter 1 — Is a strata property right for you? 1

Chapter 2 — Seeking out that perfect place 25

Chapter 3 — Assessing the building and surrounding property 55

Chapter 4 — Ways to buy 69

Chapter 5 — Responsibilities of bodies corporate … and owners 83

Chapter 6 — Fees and financial management 109

Chapter 7 — Executive committees and meetings 121

Chapter 8 — Maintenance 157

Chapter 9 — Resolving disputes 169

Chapter 10 — Selling up 179

A final word from the author 189

Glossary 191

Appendix A: What’s yours and what’s common property? 195

Appendix B: Dispute resolution process, by region 215

Appendix C: Investigating body corporate records before you buy 221

Appendix D: Helpful resources 225

Contributors 237

Index 241

Stephen Raff is the CEO of Ace Body Corporate Management, an international body corporate management company based in Melbourne. Stephen has lived in and owned strata properties and served on committees of management for more than 20 years, and has been in body corporate practice as a manager for more than 14 years.

Population growth, rising property prices and the dream of a new lifestyle have made body corporate living more and more popular in Australia. Living in an apartment, unit or townhouse can be a rewarding experience, but body corporate life can also be confusing. In this book, expert author Stephen Raff clarifies the rules and answers vital questions such as:

• What should I look out for when buying a strata property?

• What are the responsibilities of the body corporate, owners and tenants?

• How do committee meetings work?

• What fees will I have to pay?

• Who takes care of maintenance?

• What happens if I get into a dispute?

Packed with revealing case studies and state-specific information, The Body Corporate Handbook is a comprehensive guide to every aspect of strata life for owner–occupiers, tenants and investors.