BODY CORPORATE

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What do the changes mean?

Some unit owners (whether as a home owner or an investment owner) may have difficulty paying strata/body corporate fees.

What do you do differently?
  • Strata/body corporate fees remain a high priority payment. Accruing a debt can cause a large problem later on, including forced bankruptcy (and the forced sale of the unit) and very large legal costs.

  • Clients may want to contact (keeping to social distancing rules) the body corporate and other owners to arrange a meeting.

  • The body corporate can resolve to amend fees and change due dates of payments subject to already agreed expenditure and the requirement for a sinking fund for repairs.

  • The client should approach the body corporate to make a repayment arrangement.

  • Do access any hardship assistance or mediation service offered by Consumer Affairs/Fair Trading departments.