Buying guide
What is a body corporate and how does it work?
If you buy an apartment or townhouse you may need to deal with a body corporate. Here’s everything you need to know
AI summary
A body corporate is a legal entity for unit title properties like apartments, responsible for managing shared areas, maintenance, insurance, and setting rules for residents.
All owners are members and pay body corporate fees to cover these costs, which can average $4,000-$6,000 annually.
Before buying, it is crucial to perform due diligence by reviewing the body corporate's financials, meeting minutes, and rules to understand its health and any upcoming costs. A lawyer's help is recommended for this process.
How does a body corporate work?
How much are body corporate fees?
Your body corporate may limit the way you can use your property.
Body corporate rules explained
Buyer’s due diligence: how to find body corporate details
Always check the body corporate rules before buying an apartment.
Getting help reviewing your body corporate
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