The role of a body corporate is to administer common property and body corporate assets for the benefit of all the owners. All of the owners in a community titles scheme are automatically members of the body corporate.
The body corporate:
- Maintains, manages and controls the common property on behalf of owners.
- Decides the amounts to be paid by the owners to make sure the body corporate can operate.
- Takes out insurance on behalf of owners, such as public risk insurance over the common property and building insurance.
- Keeps records for the body corporate, including minutes of meetings, roll of owners details, financial accounts, registers of assets, improvements to common property by owners, engagements and authorisations.
The body corporate makes decisions at general meetings and through the committee. You may even consider your options to become a member.
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