Running an AGM without this checklist is how disputes start. Most contentious body corporate meetings are not caused by difficult owners. They are caused by gaps in preparation. A notice that went out a few days late. A financial statement nobody could follow. A levy increase that arrived without explanation. A maintenance plan presented as […]
Tag Archives: body corporate
17
Sep
Sep
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 […]
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 […]
04
Jun
Jun
Body corporate rules can be changed, but they must be changed properly. In New Zealand, changes usually need to be proposed by an owner or the committee, approved at a general meeting, and then registered with Land Information New Zealand before they become legally effective. For property owners, the key is to make sure any […]
25
Mar
Mar
Body corporate management fees are regular levies paid by unit owners to fund building maintenance, insurance, administration and long-term upkeep of shared property. What Are Body Corporate Fees? Body corporate fees (also called levies) are regular payments made by unit owners to cover the maintenance, insurance, administration, and long-term upkeep of shared property in a […]
12
Mar
Mar
Strata management fees in New Zealand are typically calculated as a percentage of annual body corporate levies or as a fixed fee per unit, with total costs varying by building size, age and complexity rather than by location alone. For a Body Corporate Manager overseeing multiple schemes, understanding inclusions, fee structures and value drivers is […]
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