What is an Owners Corporation or Body Corporate? How does it work?
A ‘Body Corporate’ is a legal identity that manages the affairs of an apartment building if it is Strata Title or ‘Community Title’.
A ‘Body Corporate’ is a legal identity that manages the affairs of an apartment building if it is Strata Title or ‘Community Title’. The term ‘Body Corporate’ has been replaced by the more modern term – ‘Owners Corporation’. ‘Company Title’ buildings have a similar legal identity known as a ‘Board of Directors’.
The Body Corporate looks after the management and administrative services the property/properties require
A Body Corporate decides what, if any, levies are payable in order to share the costs of maintaining a building