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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.
Check out our Complete Guide to Body Corporate Levies
From time to time a body corporate may be required to issue a special levy to all owners. A special levy is an additional levy issued over and above the usual administrative and sinking fund levies. It is usually issued when one of the following situations occurs when:
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.