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Understanding Body Corporate Disclosure Statements
In Queensland, the law mandates that sellers of lots in community title schemes provide a disclosure statement to prospective buyers before entering into a contract.
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As a member of a body corporate, have you ever wondered about the specific roles and responsibilities of the committee members? This article breaks down each and what can be delegated to the body corporate manager.
This article is a transcript of a recent webinar question answered by Strata Operations Manager Matthew Savage.
The chairperson’s responsibilities are loosely:
These responsibilities are relatively straightforward, but they’re crucial to ensuring that the committee functions effectively.
Check out our guide on how to be an effective chairperson.
The secretary shoulders an extensive range of responsibilities, overseeing crucial administrative tasks, including:
Given the comprehensive nature of these tasks, many bodies corporates opt to engage the services of a professional body corporate manager to ensure efficient and accurate completion.
The treasurer assumes responsibility for the financial aspects of the body corporate, handling various accounting tasks, including:
While committee members are entrusted with significant tasks as mandated by legislation, they have the option to delegate these responsibilities to a professional body corporate manager. Delegation ensures efficient and accurate completion of tasks while adhering to legislative requirements.
By enlisting the support of a reputable body corporate manager, the committee can focus on strategic decision-making and community engagement, confident that operation responsibilities are in capable hands.
In Queensland, the law mandates that sellers of lots in community title schemes provide a disclosure statement to prospective buyers before entering into a contract.
Understanding how your individual levy amount is calculated can help you appreciate where your money goes and ensure transparency in the management of your community. Here’s a breakdown of the aspects involved in calculating levy amounts.