Body Corporate

Body Corporate fees are payable to maintain and upkeep the apperance of the building and its surrounding areas.

Body Corporate fees also include your share of the building insurance.

Created as a simple way to share costs (you could imagine the problems associated with each individual owner having to separatly insure and separatly maintain their part of the building)

The body corporate fees are usually made up of 2 parts, Administration Fund and the Sinking Fund

The Administration Fund usually go to the day to day upkeep of the property.

The Sinking Fund usually is saved for the larger maintance issues such as the outside painting of the building, roof restoration etc.

Usually there is a Body Corporate Manager appointed for administration and the collecting of fees. The Body Corporate Manager does not make the decisions nor do they work on behalf of committee decisions, but they are there to help insure the lawfullness of committee decisions.

The Committiee is usually made up of a selection of apartment owners whom choose to be apart of the committee and have been elected by a vote by the owners of apartments in the resort.

Body Corporate fees can sometimes be thought of as an expense,
however they are very much, you get, what you pay for,

The prettier the gardens the more the daily upkeep
The more the facilites the more the work and repair
The larger the pool area and lush tropical walkways the more the maintenance
The better the views the more the lift insurance, maintenance and upkeep

The owning of a lifestyle unit is exactly that, you buy it for lifestyle so that all the other tedious work would be done for you, and that is what you get.