You’ve just been voted onto the body corporate committee. Nobody handed you a manual, until now. Maybe you put your hand up because nobody else would. Maybe you’re the owner who has always asked good questions at the AGM and finally got asked to help answer them. Either way, you’re now one of a small […]
09
Sep
Sep
In short, your body corporate levy is generally split across three funds: the Operating (or Administrative) Fund, which covers day-to-day running costs such as common area power, cleaning and management fees; the Long-Term Maintenance Fund (LTMF), which sets aside money for future capital works like painting, roofing and structural repairs under your building’s Long-Term Maintenance […]
23
Aug
Aug
Asset management protects physical property value through maintenance and compliance; investment management grows financial portfolios via market timing and yield. For Wellington property owners, Body Corporate committees and portfolio investors, the terms “asset management” and “investment management” are often used as if they mean the same thing. They don’t. One is concerned with the physical […]
12
Aug
Aug
Real estate is more than a physical building. For owners, Body Corporates, and property investors, it’s a long-term financial asset that requires strategic oversight, careful planning, and proactive risk management. So, what do asset managers do? They oversee the financial, physical, and regulatory health of property assets at a macro level. Their work helps protect […]
05
Aug
Aug
Exiting or changing a body corporate management contract in New Zealand requires reviewing your service agreement, achieving committee or owner consensus, and exercising proper voting procedures under the Unit Titles Act 2010. Unit owners can get out of an underperforming management contract by issuing a formal notice of non-renewal prior to contract expiry, serving written […]
23
Jul
Jul
Quick answer: No, standard body corporate fees do not include your individual council rates in New Zealand. Body corporate levies pay for the maintenance, insurance, and management of shared common property, while council rates are billed separately by the local council to the individual unit owner. Introduction One of the most common surprises for first-time […]
08
Jul
Jul
Healthy Homes Compliance for NZ Body Corporates While the Healthy Homes Standards apply directly to individual landlords under the Residential Tenancies Act 1986, they significantly impact Body Corporates in multi-unit buildings. Landlords often cannot achieve compliance, such as installing external heat pump compressors or cutting cladding for extractor fans, without altering common property. This forces […]
25
Jun
Jun
Landlord Compliance Requirements: NZ Asset Management Guide Compliance is often framed around tenant relations, but for multi-unit property owners, the real risks lie at the macro asset level. While day-to-day tenancy issues are visible, the strategic landscape of compliance deals with structural integrity, governance frameworks and collective liability that can threaten an entire ownership group. […]
18
Jun
Jun
Asset management looks at the entire lifecycle of a property to maximise value, returns and risk performance over time. Property management focuses on day-to-day operations such as tenant relations, rent collection, routine maintenance and lease administration. Property owners typically need both: a property manager for operational stability and an asset manager for strategic growth, capital […]
10
Jun
Jun
A facilities asset management plan is a structured, long-term document that shows how a building or portfolio of assets will be operated, maintained, renewed and replaced over time to meet performance, compliance and cost targets. For New Zealand property owners, Body Corporate Managers and portfolio operators, this plan is the bridge between day-to-day maintenance and […]