Skip to content

What Are the Responsibilities of a Body Corporate on the Gold Coast?

What Are the Responsibilities of a Body Corporate on the Gold Coast?

What Are the Responsibilities of a Body Corporate on the Gold Coast?

Do you have shared properties like townhouses, gated communities or apartment buildings? If you do, then managing these properties is a real challenge.  This is because there are so many responsibilities that you have to perform, mainly if you have to deal with the residents of these properties. However, you can always consider looking for a corporate body to help you manage your shared properties on the Gold Coast. In this article, we will discuss body corporations’ responsibilities when hiring them.

Key Responsibilities of a Body Corporate on the Gold Coast

The following are the responsibilities of the corporate body;

  • Managing and maintaining shared properties

One of the primary responsibilities of body corporate is managing and maintaining shared properties.  When you hire a body corporate, they will ensure they handle the maintenance and repairs of shared spaces like elevators, hallways, swimming pools, recreation facilities and parking lots.  They also ensure that these shared areas meet the required safety standards by addressing safety hazards like inadequate lighting and damaged floors. Additionally, they can oversee the renovations of common areas if you plan to improve their aesthetics and functionality.

  • Collecting and managing finances

Another responsibility of body corporate is ensuring that they collect and manage finances.  Therefore, they will collect levies from property owners and use the finances to cover expenses like utilities, insurance and maintenance. Also, they develop a budget that will help forecast and allocate the resources effectively.  Thus, the corporate body will ensure transparency regarding finances, preventing financial disputes among the property owners.

  • Facilitating meetings and communications

Body corporations are intermediaries between management and property owners.  Therefore, they will ensure that they facilitate meetings and communications, including general meetings, changes to bylaws, and notices of meetings and communication about upcoming maintenance.  Also, they ensure they respond to any questions the residents and prosperity owners raise.  This enhances effective communication, which fosters cooperation and transparency.

  • Insuring the property

The corporate body is responsible for ensuring that your property has adequate insurance coverage.  They understand the types of insurance that are available and which are suitable for your property. As a result, they will ensure that they select the insurance that will provide ample protection to your property.

  • Conducting risk management

Additionally, they will conduct a risk assessment to review potential risks.   This way, they can develop measures to mitigate the risks they find in the evaluation. This ensures that your property is safe at all times.

  • Resolving disputes

When conflicts arise between the property owners or among residents, the corporate body has the responsibility of resolving the conflicts. Some instances when the corporate body can help resolve disputes include disagreements over property use or noise.  This way, there is peace between property owners, residents and body corporate.

  • Complying with the laws and regulations

Some specific laws and regulations govern the management of properties on the Gold Coast. If you do not know these laws and regulations, you may not comply, leading to fines or penalties. For this reason, having these body corporates is handy since they will ensure you comply with the relevant laws and regulations. Fortunately, even when there are any changes in these laws and regulations, they will constantly be updated since this is their area of expertise.

If you have been having difficulty managing a shared property, explore Gold Coast’s body corporate solutions to make things easier for you.

Leave a Reply

Your email address will not be published. Required fields are marked *