Body Corporate Services For Property Developers

By arya

A body corporate service will manage common property and body corporate assets for the advantage of all its owners. If you are a property developer involved in multi-unit development projects, you should hire a reputable body corporate service to manage the common ownership aspects of the property. A body corporate service will undertake to fulfil all tasks required under body corporate law. There are many benefits of a body corporate service to all owners of the property. Here are some of the most important benefits of body corporate services for property developers.

Community Titles Schemes let the property developer share common properties with other occupiers and owners of the building. Once a developer registers a Community Titles Scheme, a body corporate will be incorporated. A property developer can privately own a part of the building or an area of land under this scheme. A community titles scheme is usually made up of 2 or more lots. It could be a townhouse complex, a residential unit block, a duplex, shopping complex, business park or an accommodation building. A corporate service will carry out the following duties as per the rules and regulations.

  • They will manage and control the body corporate assets.
  • Maintain and manage common properties on behalf of their owners.
  • Determine how much should be paid by each owner of the properties so that the corporate can survive without financial issues.
  • A body corporate has the power to make its own rules – known as by-laws. These rules will tell the owners and occupiers of the building what they should do and not do.
  • They should maintain financial records, minutes of meetings held, and a register of assets of the body corporate.
  • They should purchase appropriate insurance such as building and public risk insurance on behalf of its owners.

A good body corporate service¬†will have extensive experience in dealing with all technical details of development projects needed for successfully managing joint properties. They will use the knowledge when managing your property and help save your time and money in the process. You will have peace of mind when you hire a reliable body corporate service because you know that your property is taken care of by a professional service provider. They will make the right decisions for you in the future. That’s why you need to rely on a professional and experienced body corporate service to manage your properties.

A professional body corporate will have extensive experience in dealing with risk management situations. Risk management is one of the most important aspects of managing your property. You need to have professionals taking care of your property when things are not going the way you planned. Your investment is safe and secure when you hire the right body corporate service for your property.

Are you searching for a body corporate service to manage your common properties? If so, you have come to the right place. The aforementioned article provides information on some of the most important benefits of body corporate services for property developers.