Body corporate/Owners Corporation is a legal entity created when the land is subdivided and registered to establish a community titles scheme. Every owners of a lot in a community title scheme automatically become a member of the Body Corporate/ Owners Corporation. Our role is to act on behalf of the owners for the common interest of the property. The scheme can be a duplex, a residential unit block, a high rise accommodation complex, shopping centers, or a residential township, or a business park.
The 'Administrative Services' we provide to a Body Corporate are detailed in our Agreement with the Body Corporate, and typically would include:
- Calling of nominations for executive and ordinary Committee positions.
- Preparing draft budgets for the Committee in preparation for the AGM.
- Forecasting and budging annual expenses
- Convening and attending the Annual General Meeting of the Body Corporate and preparing and forwarding minutes of the meeting.
- Preparing and forwarding the financial statements for the AGM and at other times as required by the Committee.
- Convening Committee meetings as required and preparing and forwarding minutes of those meetings.
- Preparing and forwarding Administrative fund and Sinking fund Levy contribution notices.
- Receipting, banking and accounting for monies paid to the Body Corporate.
- Actioning arrears and debtors and attending to any associated legal issues.
- Keep an accurate set of financial records and reconcile the bank statements.
- Paying Body Corporate accounts, including any salaries and wages.
Audit requirements are conducted on an annual basis to ensure our clients trust accounts are maintained correctly.