Podcasts about body corporate

Body Corporate law changes and pets Queensland

Guest: Marina Constas – Director of BBM Inc AttorneysSee omnystudio.com/listener for privacy information.

Brain Drain Episode 11 with Forde Brookfield & Toby Batchelor

In this episode, we discuss the recently updated Unit Titles Act, and what these changes mean for apartment owners in New Zealand. We start with a breakdown of the new laws that came into effect on 9th May 2023 and highlight the three main changes: Giving apartment buyers more information about the building so they can make a more informed decision. Forcing some body corporates to hire a professional body corporate manager. Increased emphasis on long-term maintenance planning, including the requirement that some body corporates will now need to create a 30-year long-term maintenance plan. Finally, we address the impact of these changes on body corporate fees and whether the increased disclosure and new rules could lead to higher costs for apartment owners. Main topics discussed: Apartments New Body Corporate Rules Unit Titles Act Changes Role of Body Corporate Managers Long-term Maintenance Planning Potential Rise in Body Corporate Fees We also mention our upcoming property investment bootcamp. This is in Christchurch on Saturday 29th July from 1 – 3pm. It's free to register. Click the link to book your free ticket.

Join Stavros Ambatzidis from O'Brien Real Estate and producer Jane Nield for a monthly discussion on all things Real Estate. Our guest this week is Andrew Bogut who along with being part of Australian Basketball royalty - is a keen real estate investor with commercial and residential interests around Australia. We discuss; The Sydney Kings and their search for a new coach Andrew's basic principals of Real Estate investing, including his preference for commercial properties over anything governed by a Body Corporate and why His memories of growing up in Endeavour Hills in a working class suburb His first Real Estate investment Why he and his family chose to relocate from Victoria to the Gold Coast and the road blocks he faced trying to develop his property in Brighton. What he looks for in a suburb that makes it prime for investing in Buying at Auction His interest and investment in Listing Loop and why it's a game changer (you can check out Listing Loop HERE) Andrew's advice for wanna be investors - take your time and do your research Connect with Stav via www.obrienrealestate.com.au HERE. This podcast is produced by Stavros Ambatzidis and produced, engineered and edited by Jane Nield for SEN. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week we offer you a podcast with all the bells and whistles – more accurately, it's drums and gongs, as we take a brief detour to listen in on the community group that hilariously drowned out Sue's latest talk on her books.On more serious issues,  this week's Podcast covers three contentious areas of apartment living and the first two concern apartment blocks that have been rendered uninhabitable – although for very different reasons.First up, we look at a block in Queensland  which has suffered terminal damage from floods in the past few years  but owners can't access funds available through a buy-back scheme because of archaic Body Corporate laws.Then we look at the pre-NSW election political bidding war surrounding the Mascot Towers building in Sydney, in which Labor is offering to provide loans and guarantees to fix the apartments while the Liberals, slamming that plan, have launched an inquiry into what is needed to fix the block.Are the two plans mutually exclusive?  We don't think so.  In fact, we're calling for a radical approach that would achieve the best possible fix in the shortest possible time. Or will it all be forgotten as soon as the last vote is counted?And finally we plug into another pre-election sales pitch – this time to get strata residents easier access to electric vehicle charging … and why some apartment blocks just don't want to know.And Jimmy's environmentally responsible reason for not buying an electric car even though he really wants one. That's all in this week's Flat Chat Wrap. ____________________________________________________Flat Chat is all about apartment living, especially in Australia.Find us on Facebook and Twitter and the Flat Chat website.Send comments and questions to mail@flatchat.com.au.Register to ask and answer questions about apartment living anonymously on the website.Recorded by Jimmy Thomson & Sue Williams; Transcribed by Otter.ai; Transcription tidied up and sensified by Raphie.Find out more about Sue Williams and Jimmy Thomson on their websites.

Thank you for listening to The Brief Case! A podcast for lawyers, hosted by lawyer and cartoonist Sarah-Elke Kraal. Catch us on Instagram (@briefcasepod) and the world wide web: www.briefcasepod.com. My guests in this episode are: Steve Herd, Principal, Fisher Dore Lawyers and Accredited Specialist (Personal Injuries)—Qld Frank Higginson, Partner, Hynes Legal Show them some love! Vicarious Liability in PI with Steve Herd Steve discusses: Schokman v CCIG Investments Pty Ltd [2022] QCA 38 This discussion relevant specifically to the doctrine of vicarious liability where an employment relationship exists. Strata with Frank Higginson Frank discusses: Office of the Commissioner for Body Corporate and Community Management's decision re: Allure Apartments, Townsville This discussion relevant specifically to s116, Body Corporate and Community Management Act (QLD).

Over the last few weeks we have heard that we've been called to forgive, submit to, and encourage one another. It may seem like stating the obvious, but none of these can happen without one another-not just because there's a recipient for each of these actions but because God has joined us together as the Body in such a way that we need each other to properly exercise each of these callings.--We have received and participate in something quite profound- we have been baptised into one body-the body of Christ. This is nothing short of astounding.

Over the last few weeks we have heard that we've been called to forgive, submit to, and encourage one another. It may seem like stating the obvious, but none of these can happen without one another-not just because there's a recipient for each of these actions but because God has joined us together as the Body in such a way that we need each other to properly exercise each of these callings.--We have received and participate in something quite profound- we have been baptised into one body-the body of Christ. This is nothing short of astounding.

In this episode of the Brisbane Property Podcast, Melinda and Scott discuss what you need to know when you are buying a townhouse or unit in Brisbane, and more specifically those that are governed by a body corporate scheme.  It is critical for property buyers to understand the process, and what you need to know before you sign a contract for a property that is governed by this type of scheme. We discuss and help you understand what you need to do to protect your best interests during this process. If you would like to get in touch with the Streamline Property Buyers Team or if you would like to know more about our services for Investors and Home Buyers, please click HERE. Learn more about your hosts, Melinda and Scott Jennison at www.streamlineproperty.com.au

Daisy is in for JB, sports news, Damian Barrett recaps Luke Beveridge's explosive tirade at Fox Footy's Tom Morris, JB in Adelaide for Rod Marsh's funeral, the time in your life you'll never get back, Rosie's social media feedback, Blues v Tigers tonight!, Paying it forward, North Melbourne AFLW Star Aileen Gilroy, Billy's St Patrick's Day Jokes See omnystudio.com/listener for privacy information.

There's another very mixed bag this week but it's mostly good news in these trying times. Up in Queensland, the tribunal there is chipping away at restrictive pet by-laws in a building called Trafalgar Towers where one resident was forced to carry her blind dog up 12 storeys to their home. The Body Corporate has now been told in no uncertain terms that the by-law is invalid and to get it off their books. As this story details, this is the same building that not only tried to ban other people's pets when their caretaker had his own dog in the building, but then tried to force owners to transport their pets across common property in cages. Later in the podcast, we also discuss whether you would ever buy an apartment in Queensland, as part of a much broader chat about a report on rentvesting. As described in detail in this story, the co-authors of a forthcoming book called The Female Investor, have set out to show women how they can secure their financial futures through the ownership of property. And as a side issue, they have identified areas where property prices are relatively low but demand for rental accommodation is high. That makes these areas strong candidates for potential rent-vesting, where you rent a home in an area where you want to live, but invest in an area where you can afford to buy, let the property and take advantage of all the taxation and other benefits that follow. Finally, we discuss how to find a good strata manager – and avoid a bad one.  That's all in this week's Flat Chat Wrap. TRANSCRIPT IN FULL Jimmy  00:00 It's all happening up in Queensland. Sue  00:01 Yes? Jimmy  00:03 It's kind of like they've woken up, up there, to stuff that's happening in strata and they've started going "hang on; we can't keep doing this stuff." The latest thing is a place called Trafalgar Towers, which has been taken by owners for the second time, I think, in  five years, in issues over pets. Sue  00:24 Oh yes, this is the building that wouldn't allow pets to go into the lift, isn't it? Jimmy  00:28 Yes, so we'll talk about that in a minute. We're going to talk about rent-vestmint... Sue  00:33 Rentvesting. Jimmy  00:35 Rentvesting, and that's where you rent a place you want to live in; buy the place that you can afford and rent that out to other people. Sue  00:43 That's right. Jimmy  00:44 So it's one way of getting into the property market and, we've had a letter asking how do you choose a good strata manager, so we'll be talking about that, too. I'm Jimmy Thomson, I write the Flat Chat column for the Australian Financial Review. Sue  01:00 And I'm Sue Williams and I write about property for Domain and the Sydney Morning Herald and the AFR. Jimmy  01:05 And this is the Flat Chat Wrap. [MUSIC] Jimmy Trafalgar Towers in Maroochydore has been in the news, again. They have a bylaw about pets and the bylaw says that you cannot take your pets in the lift. Sue  01:34 How many lifts have they got? Jimmy  01:37 I don't know; doesn't matter. Sue  01:39 They would have more than one lift; they'll always have two lifts, at least. Jimmy  01:43 So, a couple who owned an apartment there (and I think it was on something like the 15th floor); they were told... When they bought the place, they had two dogs, and they were told there are no pets allowed here and about four or five years ago, somebody challenged this, because the caretaker's dog was allowed in the building. Sue  02:07 One rule for him and another for everybody else! Jimmy  02:10 The whole caretaker thing in Queensland is just a joke anyway. So, they managed to persuade them to allow pets, but they created this pet bylaw that said (back then), things like, the pets had to be carried in a contained cage, at any point that they were on common property, and had to be taken down the fire stairs and brought in and out by the side-entrance...

  Chris Irons of Strata Solve joins me to share:  his view that it's often a clash of personalities that's at the root of some of the most expensive and conflict-ridden strata litigation why he hasn't looked back since finishing up his role as QLD Commissioner for Body Corporate and Community Management  his 3 ‘best […]

In today's LegalTalk segment, we take a look at legal issues related to living in and/or owning a sectional title. What your rights are as a tenant and owner, and what role the Body Corporate plays in everything. We've reached out to specialist sectional title attorney and director at BBM Law Marina Constas, who'll be able to answer your questions related to this topic See omnystudio.com/listener for privacy information.

A new documentary by building experts John Gray and Roger Levie has uncovered the shocking state of apartment buildings around New Zealand. Entitled A Living Hell: Apartment Disasters. Roger is with us to discuss the doco.   

A new documentary by building experts John Gray and Roger Levie has uncovered the shocking state of apartment buildings around New Zealand. Entitled A Living Hell: Apartment Disasters. Roger is with us to discuss the doco.   

In this prank, Darren "Whackhead" Simpson plays an overbearing Estate Manager.  He calls a tenant after learning that he's built a Lapa without approval from the Body Corporate.  Unfortunately, the entertainment area does not suit the aesthetic of the estate.  "You degrade the estate!" "When you live in an estate there's a certain standard that needs to be upheld!" Things get a turn for the worse when the tenant threatens to break Whackhead's nose and his response is to nitpick at more minor maintenance issues.  - Catch Whackhead's Pranks, Weekdays at 8.10am on Kfm Mornings!   See omnystudio.com/listener for privacy information.

In this prank, Darren "Whackhead" Simpson plays an overbearing Estate Manager.  He calls a tenant after learning that he's built a Lapa without approval from the Body Corporate.  Unfortunately, the entertainment area does not suit the aesthetic of the estate.  "You degrade the estate!" "When you live in an estate there's a certain standard that needs to be upheld!" Things get a turn for the worse when the tenant threatens to break Whackhead's nose and his response is to nitpick at more minor maintenance issues.  - Catch Whackhead's Pranks, Weekdays at 8.10am on Kfm Mornings!   See omnystudio.com/listener for privacy information.

In this episode, we discuss body corporates, along with how they work ... and what to do if you think body corporate fees are too expensive. A body corporate is a legal requirement if you hold a unit title property. Though, increasingly, if you own a townhouse, you may have what's called a resident's association in place of a body corporate. Listen to the episode to learn the differences between the two, and what property investors need to know when purchasing investment properties with body corporates and resident's associations. We wrap up the episode by talking about the Property Academy video course. This completely free course walks you through the fundamental concepts of investing in property. There are a total of 19 lessons, all hosted by Andrew.

The Panel asks Andrew Murray from Apartment Specialists what needs to change.

We chat about coffee and alcohol, ordering drinks at a restaurant, creating a fortune wheel of birthdays, apartment neighbours, what happened with Trump and Four Seasons Total Landscaping, and surviving 2020.On today's episode of The Daily Talk Show, we discuss: Pre-workoutCoffee and alcoholRestaurants and alcoholThe wheel of birthdaysBert Kreischer's Netflix specialApartment NeighboursFour Seasons Total LandscapingSurviving 2020Watch and listen to this episode of The Daily Talk ShowEmail us: hi@thedailytalkshow.comSend us mail: PO BOX 400, Abbotsford VIC 3067The Daily Talk Show is an Australian talk show and daily podcast by Tommy Jackett and Josh Janssen. Tommy and Josh chat about life, creativity, business, and relationships — big questions and banter. Regularly visited by guests and gronks! If you watch the show or listen to the podcast, you're part of the Gronk Squad.This podcast is produced by BIG MEDIA COMPANY.Learn how to podcast or let us help you with your branded podcast production. Visit our podcast agency, Making Podcasts.

Understanding the different kinds of home ownership in New Zealand can be confusing. Buying a unit title property, such as an apartment or townhouse, means you automatically become part of a body corporate, but what does this mean for you? Thank you to our series sponsor – Atomic Coffee. These legends fuel us and our guests through our podcasts. If you have any questions or comments, or have a topic you want us to discuss you can contact us at https://moneyempire.co.nz/, or follow us on Facebook https://www.facebook.com/MoneyEmpireNZ/ The advice shared on Beyond the Field is general in nature and does not consider your individual circumstances and is based on our personal opinions. Beyond the Field is for educational purposes only and should not be relied upon to make financial decisions. Kayne Wahlstrom, Isa Nacewa and the Money Empire group are Registered Financial Advisers. We do not provide our clients with advice on investments, nor do we provide investment planning advice. To receive personal financial advice, you must first engage with an AFA or RFA, and receive, read and understand their Scope of Service and Terms of Engagement to ensure the service and products are suited to your needs. We may discuss products, services and answer listener questions on this podcast for illustration purposes only. www.moneyempire.co.nz Triple M Group Limited (5737850) (NZBN: 9429041825877) Registered NZ Limited Company.

Have a comment about any of our podcasts? Send us a voice note by clicking HERE! We are joined by Attorney and Conveyancer Dave Dewar, of Thompson Wilks Attorneys, to chat about your rights under the law. Does the Body corporate of your complex have the right to impose new regulations on you in relation to Covid-19 lockdown laws, and/or fines? Can you be arrested for not wearing a mask in public? How do you find out when your house or other property was built, or who previously owned it? Have a question regarding the law? Send your question, along with your name to millertimeradio@outlook.com before next Tuesday, and we may ask it on air! Be sure to mark the Subject line "LEGALLY SPEAKING" so your email goes to the correct box. To speak with Mr. Dewar, please visit his website: https://daviddewarattorney.co.za/ --- Support this podcast: https://anchor.fm/millertimemedia/support

This week, I'm chatting to my guest in person for a change:  Frank Higginson of Hynes Legal in QLD. Frank recently welcomed former QLD Commissioner for Body Corporate and Community Management, Chris Irons, to his team. Frank shares the thinking behind this unusual appointment, including his thoughts on why we must start trying to resolve strata and body corporate disputes... The post 201. Frank Higginson explains why former Commissioner for BCCM Chris Irons has joined the team appeared first on Your Strata Property.

This week, I'm chatting to my guest in person for a change:  Frank Higginson of Hynes Legal in QLD. Frank recently welcomed former QLD Commissioner for Body Corporate and Community Management, Chris Irons, to his team. Frank shares the thinking behind this unusual appointment, including his thoughts on why we must start trying to resolve strata and body corporate disputes... The post 201. Frank Higginson explains why former Commissioner for BCCM Chris Irons has joined the team appeared first on Your Strata Property.

Welcome to Finance and Fury, The Say What Wednesday Edition - Where every week we answer your questions Today's question is from James Hi Louis, Just a question regarding owning your home. Me and my partner would like to eventually own our own home but we are worried about such a large sum of our overall wealth going into a single asset - our future house. How would you correctly diversify your assets in this scenario, were there any strategies to doing this? Especially with house prices at the moment, it really seems like all your eggs will be in one basket - and for a while. What I’ve seemed to gather is that owning your own house is more a lifestyle asset and a liability. All I seem to hear is nothing but expenses / fees / costs, a low amount of capital growth all for a relatively high amount of risk. Was this true? Thanks James – and Awesome points   In this episode – we will tackle this using the economic problem and opportunity costs – The economic problem – that we all have limited resources of savings and cash flow – and need to make this work towards achieving our goals Opportunity costs of doing so – what is the next best thing that we could be doing with our financial resources?- I.e. putting your deposit towards long term investments or your cashflow going towards the repayment of a mortgage against doing monthly investments First – What is a home? – a lifestyle asset – is still technically an asset as it has a value – as long as someone else is willing to buy it off you I personally have never really seen a home as a financial asset - because as James pointed out it technically losses you cashflow when it has a mortgage – and even when it doesn’t from a mortgage, if this has been repaid – with rates, body corporate, ongoing maintenance costs for upkeep on the property Classification – Can you live off it? Anything that doesn’t make you a passive income but instead loses you cash flow can't be used for financial independence Technically - a negatively geared investment property can set you back in FI This being said – renting also costs cashflow That is where the decision does come back to lifestyle and the fact that everyone needs somewhere to live. Everyone needs somewhere to live – Property ownership is expensive – a mortgage is normally the biggest expense – PI loans eat a lot of cash flow – but the P component can be treated as forced savings that you can’t use But does decrease your I payments over the long term Sinking deposits of $100k plus into a lifestyle asset – while it may continue to grow in value long term, you can use this to generate a passive income unless you rent a room out – but then Gov will make you pay CGT on your own home if you ever sell Opportunity cost of this is using the lump sum to invest instead and cover your rent Property Capital Growth – I’ve covered this in a few previous episodes (are we in a property bubble and many others) – but Australian property from the mid 1990s has had a meteoric rise Created a situation where people love property out of the expectation of buying and experiencing the same meteoric growth rates – Pre-1990s wasn’t the case – property grew with wages at around 3.5% p.a. from 1890 to 1990 – What changed? Banking regulations and the amount people could borrow thanks to declining interest rates But anyone looking to buy property at this stage and get the same price gains should keep in mind that it is reliant on credit growth from borrowings – so if people can afford to keep increasing the size of a mortgage from say $700,000 to $5.4m in 30 years – we won't get the same price gains – Looking back on the average mortgage growth over the past 30 years – that is what it has been – from $90-100k to $700k in most of Aus – worse in areas of Sydney/Melb – wage growth at record low rates would only be able to cover $1.9m – so I don’t think so – but may be wrong I personally sold off my last property in 2017 – was lucky timing as the market was at the peak in the area I sold – Used the funds to invest and build a further passive income – passive income from investments could already cover my rent – so this went into reinvestment Question of Renting vs Buying – look at the option of what is the interest cost, rates, BC is applicable, and spending on upkeep versus rental price Rent V Buy – in Aus with the price of property – I prefer renting if it is an apartment in the city – or house in the surrounding suburbs – why? Example – Apartment I am in at the moment is worth about $650k-$700k – pay just under $2k p.m. in rent – For same property at a 3.5% interest rate – would be paying $1,500 p.m. in interest at under 3.5% - assuming a 20% deposit of around $130k – but add on Body Corporate and rates – additional $5k p.a. ($420 p.m.) – total interest bill and minimum expenses are the same as the rent – But opportunity cost of the $130k tied up in the deposit – use this for an investment instead that provides a passive income Then add on the principal amount of $820 p.m. – at minimum – cashflow wise I am better off by around $1,362 per month – or $16,300 p.a. to direct towards investments This example doesn’t include the capital works or sinking funds requirement on the place either - This all being said – this is a financial decision - But lifestyle considerations come into play – most people want to own their own place to live long term – avoids dealing with tenancy issues, dealing with real estate agents or the owners selling out of the blue Comes down to security and ability to make amendments to the property as you like – renovate or paint a wall Lifestyle isn’t financial though – it is what you want to achieve to suit what you want If apartment living is what you like – then buying apartments to live in long term can work Have to buy for now and the future – Property (even your own) is a long term thing – if you are planning on having kids/starting a family – and want to move to a bigger home in a few years but are buying now – may as well save more and buy a bigger home Why? Transaction costs – stamp duty, agents fees Example – Buying an $800,000 place in NSW – stamp duty of $31,777. When you sell it – agents fees of around $20k – so a minimum of around $50k to buy and sell – 6.5% of the value – No guarantees that prices will jump up that much in the time you might want to turn around The risk – Shouldn’t view your own PPR as a speculative risk Speculative risk is that you lose money on it in the short term through volatility – you are buying for the long term Buying at $900k to see the valuations drop to $800k sucks – but as long as you don’t need to sell – what does it matter? The risk of owning a PPR is that it eats all of your cash flow up – through having too large a mortgage or interest rates rising – if this is the case and you have nothing left in cashflow to make additional repayments or to direct towards investments – that can be a risk Everyone needs somewhere to live – but once you retire you also need something to live off – super or investments – Worst case – Age pension which isn't a guarantee How would you correctly diversify your assets in this scenario, are there any strategies to doing this? The option is using your own property as an investment vehicle – Not advice but a strategy – Create a separate loan facility as an investment loan – and push all your cash/savings into this – Then draw the months worth of savings that you would have invested anyway to invest – debt recycling Not for everyone – and now not a great time to do it due to markets being at all-time highs The economic problem of cash flow – This is limited in most situations – as disposable incomes are the restricting factor Mortgage repayments versus investing the funds PI repayments - Interest component is covering the costs of interest – the principal is repaying the loan – and is what saves you interest long term – but at the moment rates are low – not expected to go anywhere for a little while – say you could make P repayments over 5 years and Opportunity cost factors (such as paying down debt versus investing) and also diversification factors Own home shouldn’t be treated as an asset – centrelink doesn’t as you don’t live off it but live in it   The Question – Doing what is right for you long term Me personally – wouldn’t buy an apartment – BC costs and no land to property price ratio – For me land is what is important – now building a new deposit to buy a few hectares of land around 30-40mins from the city – as for me having access to own food that can be grown and fresh water has been my plan for over a year now Summary  DO the numbers – Look at your cash flow – and opportunity cost  But also – your lifestyle considerations come into play Thanks for the question James Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/  

This week, I'm joined by Chris Irons: Queensland's Commissioner for Body Corporate and Community Management. In a wide-ranging discussion, we cover:   the unique nature of his role why his office is partnering with the likes of QLD police to deliver the right messages to residents creative responses to the increased demand for good information... The post 174. The unique role of the commissioner’s office – with Chris Irons appeared first on Your Strata Property.

This week, I'm joined by Chris Irons: Queensland's Commissioner for Body Corporate and Community Management. In a wide-ranging discussion, we cover:   the unique nature of his role why his office is partnering with the likes of QLD police to deliver the right messages to residents creative responses to the increased demand for good information... The post 174. The unique role of the commissioner’s office – with Chris Irons appeared first on Your Strata Property.

As inner city space reduces, the increase in townhouse and apartment living means we have to learn to live in communities where new and different rules apply. This podcast looks in to some of those issues and opportunities.

In the 16th episode, Peter hones in on his experience in strata management and how to bring the best out of a community titles scheme. Peter recounts on changes in the industry such as demographic changes and the changing role of the Body Corporate Manager as a “trusted advisor”. Peter also discusses: Infrastructure changes in new developments and the need to take advantage of modern initiatives; The need to enhance sustainability in a Community Titles Scheme; The importance of implementing best management practices in a new development from the beginning; Managing committee expectations from a BCM’s perspective – including the need to encourage ongoing training and education for committees; The need for the BCM to be visible and maintain an interaction and relationship with lot owners and the committee, and strategies to achieve this including AI and data analytics; The benefits of harnessing on existing skills within the community of lot owners in a scheme; Navigating challenges when a committee cannot be formed, and ways to encourage participation; How a BCM can enhance their career in strata management; A view on the future of education and licencing in the strata industry; Best practices in meeting procedures and the need for the BCM to understand the legislation and procedures (including managing voting rights); BCMs need in enhancing communication, offering other services such as facilities management and advising committee’s on appropriate experts when needed; The factors that affect cost for the Body Corporate Manager’s services and the need to set committee expectation as to cost at the committee budget committee meeting and obtaining approval before incurring such costs. ​Contact details: T: (07) 37217000 Email: peter.crogan@picagroup.com.au

Kat and The Property Coach, Carlo Mariani, talk us through body corporate financials and what to look out for when buying into a sectional title scheme.

In the 13th Episode of Let’s Talk Strata, the second interview with the Body Corporate Commissioner for Queensland, Chris Irons, comes back again to further elaborate on common disputes that occur on a daily basis in a Community Titles Scheme. Topics covered include discussion on: • Recap on statutory limitation periods for Body Corporate debt recovery and a review of the recent Court of Appeal case of Body Corporate for Mount Saint John Industrial Park Community Title Scheme 18632 v Superior Stairs & Joinery Pty Ltd [2018] QCA 173. Chris discusses the statutory requirements and processes involved in recovery such as payment plans against the backdrop of the Body Corporate’s requirement raise necessary funds, and to act reasonably in the process; • Chris talks about the need for Committees and lot owners alike to seek to resolve underlying issues that might be the precursor to disputes precipitating later – Where Chris talks about the need to “cleanse the well”; • Short term letting and a review of the QCAT Case Body Corporate for Hilton Park CTS 27490 v Robertson [2018] QCATA 168; • Prescribed process for addressing by-law breaches and the need to properly evidence a breach before taking action; • Other breaches are explored in the context of Adjudication decisions and other decisions– parking, visitor parking, noise, hard flooring, smoking, towing; • Smoking nuisances and the difficulties in establishing breach and sufficient evidence of nuisance (Norbury v. Hogan [2010] QCATA 027); • Towing and best practice for a Body Corporate considering this course of action; • Best practice tips to managing disputes generally, requirement for reasonableness in decisions of the body corporate, and no-go zones for the body corporate to be mindful of when managing disputes; • The role of Conciliation and Adjudication in finding resolution; • Chris discusses the BCCM Commissioner’s Office and collaborative initiatives with other Government and non-Government agencies to address common issues in strata; • Preventative dispute resolution steps prior to making Conciliation and Adjudication applications, and the need to understanding the underlying issues to a dispute and “narrowing the focus”. • Chris provides advice on accessing the Newsletter and webinars from the Commissioner’s Office in relation to the above issues, and a great many more. Contact details: Subscribe here to the Commissioner's office Newsletter, Common Ground: • https://www.qld.gov.au/bodycorporate Contact the Commissioner’s office: • Phone: 1800 060 119 • Website: https://www.qld.gov.au/bodycorporate BCCM Webinar series: • https://publications.qld.gov.au/dataset/bccm-webinar-series

The interaction between residential tenancies and bodies corporate, and how the RTA fits in. An informative discussion on the role of the RTA and managing strata tenancy matters with Lynn Smith, Senior Community Education Officer at Residential Tenancies Authority (RTA) Lynn provides an overview of the RTA’s role and function in relation to tenancies in Queensland, and in particular, those tenancies occurring within a Body Corporate. Topics covered include discussion on: • An overview of RTA forms and what they are used for; • Role and scope of RTA: - RTA Conciliators; - RTA Investigation team. • What matters and parties the RTA can deal with and interaction with cross-jurisdictional matters; • Differences in dispute resolution pathways open for tenants and landlords and typical disputes that come to the RTA for dispute resolution, such as: - By-law disputes – the effect of Body Corporate by-laws in tenancy matters, and how the RTA assists its customers; - Managing damage to Common Property caused by tenants – a discussion on maintenance vs fair wear and tear; - Breach Notices. • Tips on applying for dispute resolution assistance with the RTA; • What happens if a matter is not resolved during RTA dispute resolution processes; • RTA penalty and enforcement processes for breaches of Queensland tenancy laws, such as unlawful entry, failure to lodge rental bonds with the RTA, failure to supply required RTA documentation; • Role of on-site managers in lodging the bond application; • Tips for landlords and tenants in better managing tenancy issues: communication, being informed of the rules and where to find them; • The review of residential tenancy legislation. RTA contact details: Tel: 1300 366 311 Email: rta@rta.qld.gov.au RTA website: www.rta.qld.gov.au RTA News signup: https://www.rta.qld.gov.au/News-to-your-inbox?b=842B83A1A55643508C318D7458526208 RTA Factsheets: https://www.rta.qld.gov.au/Forms-and-publications/Fact-sheets RTA Forms: https://www.rta.qld.gov.au/Forms-and-publications/Forms

In the 11th episode of the Let’s Talk Strata Podcast, Coralie sheds light on the practicalities and challenges in delivering outcomes and exceeding client expectations. Coralie overviews the evolution of strata management and highlights the critical role that Body Corporate Managers, or BCMs, play in ensuring Bodies Corporate operate within the ambit of the legislation. Particularly, Coralie and Marc discuss the following: - Communication as key to managing expectations of contractors and sub-contractors and committees; - Enhancing the delivery of strata management through technology, including the more effective conduct of meeting procedures; - The emergence of electronic voting and how this will enhance transparency, speed of delivery and access to clients; - Complexities found in the more modern layered schemes and managing the enlarged responsibilities and obligations; - The expansion of the BCM’s role and the emergence of the concept of the BCM as “information facilitator”; - Managing the tension between delivery of legislative information to clients and the referral to lawyer for necessary legal advice; - The pathway to a career in strata management - education, ongoing professional development and practice, and developing of professional networks – + tips to new entrants to the industry; - Future directions of strata management and the need for industry stakeholder collaboration and self-regulation or licencing of strata professionals; - Exploration of “on-the-ground” BCM issues, such as: o Managing BCM disputes; o BCM termination of its agreement in certain circumstances; o Tips on enhancing strata financial management; o Acquisition of BCM skill sets. Coralie’s contact details: Tel: (07) 3367 3559 Email: coralie.mott@ctsm.com.au Website: www.ctsm.com.au

In this second episode of NZFreeLaw, hosts Julia and Josh speak to lawyer Sarah Manning a property lawyer from Christchurch. Sarah explains what unit titles, easements, and body corporates are and we discuss leaky, creaky homes and much more.This episode was tapped before the tragic events in Christchurch and is dedicated to the people affected by those events.Disclaimer: Nothing in this podcast is given as legal advice to any individual.

An overview of shortfalls in my day to day role that I am confident can be cured by advances in artificial intelligence, software programs that will help me to better support Committees and get onto their queries with a timely response.

Body Corporate debt recovery - Procedures, tips and steps to successful action An instructive look at debt recovery from the Body Corporate and lawyer’s perspective, and how to manage such processes with Daniel Wignall, Principal Lawyer at Macpherson Kelley Daniel discusses the difficulties and challenges in a Body Corporate recovering outstanding debts, amidst the Body Corporate’s obligation and limitation periods for such recoveries. Daniel provides recommendations on the committee action in initiating a ‘prescribed proceeding” for debt recovery, including the best practice in formulating the necessary committee approval (VOC). Daniel advocates for specific and detailed committee motions in approving debt recovery processes, stating: “I think it’s important to keep it specific because it all depends on the amount of the claim, and to keep lawyers in check and always reporting back to their clients. I think, if it gets to a point where it’s not commercial, committees need to understand that and need to be told that … so causing the lawyer to go back to the committee all the time on big decisions of cost is important, and therefore the VOC should be quite specific on what those instructions are.” Daniel delves into best practices and intricacies of the following: - The effect that the quantum of the debt has on the optimum method to pursue debt recovery; - The process of debt recovery explained; - Why lot owners do not pay levies and why it is imperative that a Body Corporate recover such debts; - The benefits of lawyers billing debt recovery actions on the basis of a scale of costs, particularly when arguing the “reasonableness” of recovering such incurred costs; - The importance of levies on how not paying levies impacts the Body Corporate; - The need for reasonableness of payment plans from lot owners; - Self-represented parties and the implications of dealing with such debtors; - Debt recovery enforcement options against individuals and corporate entities; - Financiers and debt recovery; - The importance of proper communication between the Body Corporate/Lawyer and the lot owner debtor; - The role of the Body Corporate Manager in debt recovery, associated due diligence action and best practices to be undertaken; - The conveyancer’s role in debt recovery; and - Future directions in Body Corporate debt recovery including cost implications in nuisance applications. Daniel’s contact details: Daniel Wignall Principal Lawyer - Litigation and Dispute Resolution, QLD MK Lawyers P: +61 7 3235 0460 E: daniel.wignall@mk.com.au Profile: https://mk.com.au/our-people/daniel-wignall/

A Committee member who was a bit of a handful has passed on. I feel conflicted because we didn’t always agree and projects at the scheme were not completed. Today I talk about the paperwork side of death and your body corporate. We are always the last to know.

The ALP announced on Friday (29/3/19) that it will ban negative gearing from 1 January 2020 if it wins the election next month. I wrote an article for The Australian newspaper over the weekend which addresses the steps property investors can take to fortify their investments (which I list below). A number of people have asked me whether they should invest in property prior to 1 January 2020. I discuss this too.We still have a long way to goOf course, the ALP has to win the election before it can ban negative gearing. I acknowledge that virtually every poll predicts an ALP victory. But John Howard didn’t poll very well leading up to his 1996 election win. And who would have thought Mr Trump would become President of the USA! So, anything can happen.Secondly, it will depend on how strong their win is and whether they have a large majority or not. If it’s a tight win, they may have to negotiate with minor parties to get its law enacted and, as a result, water down its change to negative gearing e.g. limit it rather than an outright ban.And finally, we have not seen the draft legislation yet. All the ALP has said is they will be negative gearing if people invest in established property or shares after 1 January 2020. Back in 1985 when the Hawke government banned negative gearing, people used unit trusts to invest in property. They borrowed to buy the units and as such were able to continue to negatively gear the property. So, there could be workarounds.What should (existing) property investors consider doing?There is a risk that the ban on negative gearing will put further downward pressure on property values in 2020. Owning an investment property in a falling market can be a double-whammy. Not only is your asset value falling, but you have to put your hand in your pocket each month to contribute towards the holding costs (if the net rental income isn’t enough to meet the loan repayments). Here are some of the steps you can consider taking:1. Reduce holding costs – fix your interest rateMany lenders are offering 3 years fixed rates at levels below variable interest rates, particularly if your loan repayments are structured as interest only. This may help reduce the monthly holding costs and you could still be better off on a fixed rate because, even if the RBA does cut rates this year, there’s no guarantees the banks will pass it on. See more from my blog a few week’s ago.2. Make any changes to mortgages prior to 2020If values do fall further as predicted, now might be a good time to lock in access to available equity. This involves increasing your loan’s credit limit to up to 80 percent of the current value of your investment property. This will give you access to additional credit for emergencies (i.e. a financial buffer) or future investment purposes. This equity may not be available in the future if bank valuations fall after 1 January 2020.3. Divest of underperforming properties in 2019I expect that some property types and locations will be more exposed to changes in negative gearing. For example, locations or buildings that are dominated by investor-owners could be at greater risk compared to locations with a more normalised number of owner-occupiers. In addition, the types of properties that have historically been marketed to investors primarily because of the tax benefits they generate (such as depreciation and negative gearing) will almost certainly be negatively impacted.If you own a property with these characteristics, you might consider divesting of that asset before any changes to negative gearing are confirmed. Of course, you must consider this in context of the property’s past investment performance, likelihood for future returns, divestment costs such as Capital Gains Tax, real estate agent fees and the like. The point is that if it’s a dud investment today, its likely to be an even worse investment if negative gearing is banned.4. Prepare to increase your rental incomeSQM Research predicts that acquisition rental yields will rise by around 1% if negative gearing is banned. This is what many professionals said what happened when the Hawke Labor government banned negative gearing between 1985 and 1987. They reinstated negative gearing to take pressure off rents. If rents do rise, you should ensure that your assets are well positioned to benefit from this.To achieve this, you could consider doing two things. Firstly, avoid any lengthy rental agreement terms with your tenant. This may allow you to review rent levels to meet the market. Secondly, consider making cosmetic improvements to your property that will enhance its rental demand. Things like installing air conditioning, giving kitchens and bathrooms a facelift, recarpeting or painting can have huge appeal to tenants. These improvements don’t have to cost a fortune, you can use a mortgage to fund these expenses and you can depreciate these improvements (i.e. get a gradual tax deduction for them).Another way to increase a property’s income is to consider furnishing it and letting it out on a short-term basis via businesses such as Airbnb, stayz or corporate let. You can potentially more than double the amount of income produced by a property (compared to having a permanent tenant) thereby transforming its overall cash flow from a negative position to neutral or even positive. There are risks associated with this including ensuring you have correct insurance cover, getting approval from Body Corporate managers if it’s an apartment and preparing for the likelihood that income receipts may be lumpy. If abolishing negative gearing does put downward pressure on values, then hopefully you can offset some of the impact by maximising your property’s rental income.5. Maybe it will create opportunities?The impact of these proposed negative gearing changes could also create investment opportunities too. My analysis has demonstrated that, in the long run, the abolition of negative gearing will only have a small impact on overall investment returns in investment-grade locations (see here).In the long run, the immutable laws of supply and demand in the face of strong population growth will continue to generate substantial capital growth. A strong level of capital growth will, over time, dwarf the lost tax benefits as a result of banning negative gearing. Therefore, if banning negative gearing does temporarily depress prices in quality locations, it might create an opportunity to buy investment-grade property at a level below intrinsic value.Should you invest in property prior to 2020 to ‘lock in’ negative gearing?Of course, the answer to the above question depends on your individual position and goals. However, as a very general rule, I would say that if your retirement strategy was to invest in property over the next 5 years then, yes! I would bring forward the implementation of that and try and invest prior to 1 January 2020. However, if for whatever reason that is not possible, I would not be too upset. Investing in the right asset is far more important than negative gearing benefits.Remember, a negative gearing benefit diminishes over time. It is typically material over the first 5 to 10 years of ownership. After 10 years, the benefits of negative gearing have typically evaporated. So, if you intend to hold the property for many decades, the initial negative gearing benefits become less material over time.Therefore, if you decide to try and invest in property before negative gearing is banned, don’t cut any corners and invest in just any property. A quality property without negative gearing will always produce better returns (in the long run) than an average property with negative gearing.I would caution anyone from being driven by the Fear of Missing Out (FOMO). Don’t invest in property just because you feel that it’s a once in a lifetime opportunity to enjoy some negative gearing benefits. Making investment decisions purely in the pursuit of tax benefit is a recipe for disaster (i.e. mistakes).Stay calm and focus on the long-runThese potential changes to negative gearing generate a lot of noise. The media and politicians love it. But in reality, in the long run, they are relatively meaningless. Its just noise.Focus on the fundamentals (it’s exactly why I wrote Investopoly). Invest in quality assets. Have a plan and stick to it. I’d bet in 2030 we’ll look back and laugh at all the negative gearing hyperbole and be thankful it didn’t distract us from making important decision.

Sometimes as a body corporate manager we will fail to meet committee expectations and they will press the owners to sack us. It’s a fact of life that I cannot please everyone. When a scheme exercises their right to go elsewhere my job is to work with them to ensure a smooth transfer of their records to the new company.

Welcome to Finance & Fury’s Say What Wednesday Today’s question is from Lucas, “Hey guess, just wondering if you think that flipping houses is a good strategy? Can you really make a living flipping houses?” Good question! Flipping houses has become very popular but it’s not as easy as you think.   The Theory Find a ‘fixer up’ property at a low price Renovate it. Spend some money bringing it up to higher standard. There are people who run courses on this – you spend $1 and it should increase the value of the property by $1 Sell it for a profit – Like magic! Sounds good right?   Finding the property   It’s the same process for any property purchase (researching, etc): Research property Values, growth history, what work needs to be done on the property? Your situation Cap your price – Know how much you can afford Budget – do you have surplus cash in case renovations go over budget? Is it worth it? Look at potential gains – Minus costs in and out, along with interest, stamp duty, agent fees, legal fees etc. Timeframes – how long will it take?   Does this work? Here are some examples. Buy something for $450k, with a 10% deposit (so, you’ll need $45k plus other costs)     Scenario 1 – $2 for $1 every spent Scenario 2 – $1.50 for every $1 spent Property Price $450,000 $450,000 Loan $405,000 $405,000 Purchase costs     Legal fees, registration, pest inspection, etc. $2,500 $2,500 Stamp Duty (QLD) $14,175 $14,175 LMI (10% deposit) $7,938 $7,938 Total $24,613 $24,613 Renovation & ongoing costs   Interest expenses - 8 months $12,150 $12,150 Renovation costs $80,000 $80,000 Total $92,150 $92,150 Selling fees     Sale Value $610,000 $570,000 Agent fees, advertising $16,775 $15,675 Assessable Gain $67,850 $27,850 Taxes - CGT (If not living in and only income) $14,425 $14,425 The Bottom Line $57,037 $18,137   When it goes right: Property markets climb in under 12 months (there’s no guarantees) You are experienced in property construction, renovations You’re in a trade industry, you have friends in trades, and have the time to get the work done   Risks: Overcapitalisation – spending more than needed Profits come from ‘cosmetic’ renovations Structural is normally not valued by buyers. For example – Replace foundations, rotted walls, etc. Your Experience and situation – there’s lots of moving parts to get it done in a timely period How much of the work can you do yourself to save on costs? Is this going to be your full-time job? Getting finance for the project External factors If the property market goes down, you’ll struggle to break even Council or Body Corporate approvals What if it doesn’t sell? Can you afford the loan? Other Options Keep the place and rent it out for more income now Retain the property and refinance for more equity and invest elsewhere   In Summary EVERYTHING needs to go right – it’s hard to make a lot of money if you don’t have much experience.   If you have any questions hit us up here at the contact page

I’ve just started working with a committee for a scheme where it seems like quite a while ago the committee lost faith and lost interest in providing their body corporate manager with timely instructions and it seems that was to their detriment.

​"Strata, Law reforms and how they affect us all​​" A technical and practical discussion with Professor Michael Weir, Faculty of Law - Bond University In this episode of the Let’s Talk strata podcast, our guest delves into the complexity of the Body Corporate Law, its proposed law reforms and how these changes may impact lot owners, tenants, invitees and committee members. Professor Michael Weir covers the following hot Strata topics: • Property rights and what it means to be part of a Community Title Scheme; • Achieving equitable outcomes in Body Corporate disputes; • Building sustainable Strata developments and what it takes to build a good community; • Controlling building defects; • Tips when purchasing a Strata title property; • The importance of Strata education for lot owners and practitioners alike. Professor Michael Weir also discusses his academic perspective on potential law reforms and analyses them against the current law, such as: • changes to the resolution without dissent threshold requirement; • More equitable calculation of lot entitlements; • Controlling nuisances such as smoking and parking.

​"The Body Corporate Commissioner's office 101" A relaxed discussion with the Body Corporate Commissioner, Chris Irons The Body Corporate Commissioner’s office plays a vital role in the Strata industry in Queensland. The Commissioner has a diverse role in dealing with an incredibly diverse group of people as stakeholders with strongly-held opinions and competing priorities. The Commissioner’s office provides information and finds ways through the complexity of the jurisdiction to provide everyday Queenslanders with relevant and simplified information. In this episode, Chris Irons, the Body Corporate Commissioner, outlines the dispute resolution avenues and how his office provides means for resolving matters that have not been resolved via the primary steps of dispute resolution. There are currently more than half a million lots and 50,000 bodies corporates in Queensland and growing. The Commissioner’s office provides information (not legal advice) and Chris explains some of the challenges that his office grapples with. Chris also outlines that the primary method his office uses for pushing information out to people is Common Ground, a newsletter that goes out on a fairly regular basis and which serves two purposes: • an informative regular bulletin • to advertise webinars, seminars or events Subscribe here to Common Ground: https://www.qld.gov.au/bodycorporate How to contact the Body Corporate Commissioner’s office: • Phone: 1800 060 119 • Website: https://www.qld.gov.au/bodycorporate What is Let’s Talk Strata The Let’s Talk Strata podcast is the first of its kind for QLD. It’s a platform that sees pinnacle industry professionals discuss matters within the areas of their expertise concerning all things Strata, Strata issues affect a significant number of Queenslanders and this podcast seeks to elevate those important issues to the communities’ attention. The podcast also strives to obtain the views of every important stakeholder in the Strata industry

A timely lesson for all committees. Don’t ignore the QFES and if you receive a direction to rectify then get rectifying! The owners at this scheme now have to chip in $21k to pay this fine when that money could have been spent maintaining and upgrading the fire assets at the scheme. It should never have come to this.

We're 100 episodes old*, so we might as well talk about death. Edwin is turning out to be our most philosophical user - you'll remember him from before. This week, we help him figure out what will happen to his investments when he dies. We know for sure every investor, trader, RA holder and homeowner will die. Why has it taken us 100 episodes to talk about the impact of death on wealth? Mostly because it's scary and we don't like to think about it. Estate planning is a huge part of financial management, especially for those who have already managed to accumulate some assets. It's moving up our list of priorities in a big way. Thanks, Edwin. *We did also smash an entire bottle of champagne while recording this episode to celebrate 100 weeks of The Fat Wallet Show. This podcast has been a transformative experience - personally, professionally and for our business. You guys surprise us with your frankness, insights and thoughtful feedback every week. You're a constant reminder that world is full of intelligent, sincere people who care about those around them, despite what we might think after 30 minutes on Twitter. Thank you 100 times over. You should come party with us on Wednesday to celebrate! Win of the week: Leonora thinks we could do better in the swearing department. Coming from the Cape, I find your swearing vocabulary very limited.  A four year old down here might know more choice words than the two of you combined.

“It was literally all the money was pouring into a hole.” Sharon’s guest on this episode of The Property Pineapple is hotelier and family man, Jim Croft. Jim and his wife bought their first property as an investment in 2007. Although optimistic about its investment potential, they also chose the place based on it liveability, in case they would need to stay in it longer than first planned. Jim wanted a place a little further out of town with some land, but his wife pushed for a property more central, with a focus on short-term gain. They compromised and opted for a blue-chip suburb as a safe investment option. The place was an apartment in South Yarra, a short walk to St Kilda Rd, the city, and the MCG. The apartment came furnished, but Jim and his wife weren’t fond of it all. So they purchased new furniture, a TV, cutlery, and other assorted things, and were able to increase their rental yields by over 50%.   They also owe much of this increase to them being ruthless in deciding who could lease the property. They decided to offer short-term leases, targeting professionals living away from home, who needed to be close to St Kilda Rd for work. Many of these professionals are supplied with a living away from home allowance, which is often enough to finance long-term hotel stays. Jim and his wife’s apartment presented a far cheaper option and proved a great strategy. However, it didn’t always turn out the way they would like. One time, a tenant provided false information on the application, and they discovered someone completely different occupying the apartment. They had also changed the locks and Jim suspected they may have been manufacturing drugs in the property. The investment didn’t suffer much vacancy because of the short-term leases, but their finances were impacted by re-lease fees from agencies. This frustrated the pair, and they eventually found an agent that wasn’t intent on taking advantage of them. Jim as much to share about the Body Corporate at the apartment building. For the most part it didn’t present an issue, as there were not many extra features at the apartment building. However, there were some significant ground works that needed to be completed, and Jim was hit with a $13,000 bill. This money was essentially thrown away, as the works added no value at all to their investment. Jim continues to explain some of things investors may find themselves having to pay for through their Body Corporate, also discussing sinking funds. Jim then imparts some great wisdom about depreciation schedules, particularly in regards to his experience with the furnished property. Then in 2008, Jim and his wife purchased a unit in a refitted heritage building in Kew. This complex had a pool, tennis courts, full-time maintenance, and so attracted hefty annual fees. This new place they lived in for a short time, before vacating and finding a tenant. Jim offers the piece of advice for investors to be actively involved with the choosing of their rental tenant. After a couple of years of tenancy, they took back the property and started renovating, adding a new kitchen. The plan was to sell the place when they were done. Jim contracted the work out, but was an active project manager, running around town picking out many of the materials needed. When doing this, Jim always had in mind the potential buyer, and so thought about what kind of fittings and surfaces they might like.  They then sold both properties in 2013, using the returns to buy into a business and purchase another property that would be their family home. They lived there for a time, before needing to vacate in order to be closer to their business. In the interim, they had a daughter, and are gearing up to moving back into their family home in the not-too-distant future. About Sharon’s guest, Jim Croft… Jim is a father with a young family. He is the franchisee for a chain of serviced apartments in Melbourne, where he currently lives with his wife and daughter. About your host, Sharon Taylor… Sharon heads up the research division at Performance Property Advisory. She is responsible for the aggregation of economic and property data sources, as well as deep analysis of the data to provide quarterly reports on each capital city of Australia.  These reports identify between 5 and 8 submarkets in each capital city, and provide an opinion as to the short term performance of each submarket. This information is vital for clients to maximise the performance of existing assets, and also for selection of new blue-chip investment locations.   ‘The Property Pineapple’ is one of three segments you will hear on the Performance Property Data podcast. Released fortnightly, and hosted by Sharon Taylor (Research Analyst - Performance Property Advisory), the show presents listeners with stories from real investors, discussing their wins and admitting their losses. ‘Property Insiders’ are also released fortnightly and are conversations between David McMillan (Director Acquisitions - Performance Property Advisory) and industry leaders offering knowledge and expertise. And ‘Performance Insights’ are released every Wednesday and Friday, giving you technical information and the lowdown on key property markets around Australia. These episodes are also available as short videos at our youtube channel. For more information about how Performance Property Data can help you maximise your investment dollar, head to www.performancedata.com.au

Traditionally your lawyer will do a land tax search as part of the purchasing process and whether land tax is payable or not will depend upon many factors including the value of the land you already own. In my experience most people who are looking to buy their first apartment will not be liable for land tax due to its likely value and the exemptions applicable. With all things legal ask your lawyer and also land tax is not a body corporate expense. There is no ability to ask the body corporate to pay it, if you are liable then you as the owner must pay it.

Frequent question- can an owner stop being part of a body corporate? Short answer no and here are some reasons why.

The question I’ve got today is an email from Nick who asks, “Hi Ryan, how do you start your own body corporate?” In case you don’t know a body corporate is the governing body that helps you manage a unit block or a group of townhouses. Basically a group of people that share common areas […] The post How Do You Start Your Own Body Corporate? (Ep218) appeared first on On Property.