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
Buying a unit title property like an apartment means you'll join a body corporate. This legal entity, made up of all owners, manages shared spaces, handles building insurance, and sets rules for residents.
Owners pay annual body corporate fees to cover these costs, typically averaging $4,000-$6,000. Before buying, it's crucial to perform due diligence by reviewing the body corporate's financials, meeting minutes, and maintenance plan. A lawyer can help identify potential risks or upcoming expenses.
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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