In Queensland the Body Corporate and Community Management legislation changed on 14th April 2011.
From this date there are new requirements to adhere to.
Existing Disclosure Statements may need updating and Community Management Statements may need changes prior to registration.
Here are some questions to ask your consulting team:
- Are the contribution schedule lot entitlements and interest schedule lot entitlements different ? If yes, then does the Disclosure Statement specify insurance separate to the administration fund and sinking fund and what method of entitlements each is collected from ?
- Did your Body Corporate consultant provide statements for the Community Management Statement on entitlements ? If yes, then have they reviewed the statement and provided feedback on any necessary changes to comply with the legislation changes.
- Do you have contracts on existing lots, a foot ? If there is a new CMS to be registered with further lots in the scheme before the lot settles, these existing lot contracts may not have a copy of the proposed CMS which will be registered at the time they settle.
In these moving times, keeping your documents water tight from possible challange is crucial.
Our developer consulting team have experienced staff that have been with SSKB over 15 years and can draw from a vast knowledge base to add considerable value to your project.
Call our team on 07 5504 2015 or email firstname.lastname@example.org , we are pleased to provide overview advice on any new project.