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June 2017

You are browsing the site archives for June 2017.

In: Accounting and Finance, Body Corporate

Contributed By: Mike Phipps Finance on

I see there is a financial institution out there that proposes that it’s possible to love a bank.  It’s an interesting premise and given the overuse of the L word in modern dialogue I thought I’d go back to basics and have a look at the definition of love.  Turns out its pretty much all things to all people albeit my search through the Interweb found this rather succinct paragraph. Love can make you do anything and sacrifice for what will be better in the end. Love is intense,and passionate. Everything seems brighter, happier and more wonderful when you’re in love. If you find it,Read More →

In: Body Corporate, Legal

Contributed By: Hynes Legal on

The Body Corporate and Community Management Act 1997 (BCCM Act) sets out a number of spending limits. Some of these intersect with others. Some need to go to general meeting and some depend on the number of lots in the scheme. The rules relating to them are scattered across the relevant Regulation Modules. This article sets them out in one place. The major categories of spending include the: committee spending limit (is a committee or general meeting required?) major spending limit (are two quotes needed?) common property improvement limit (what type of resolution is required depending on who is making the improvement?) The committee spending limit The default position for committeeRead More →

In: Body Corporate, Legal

Contributed By: Small Myers Hughes on

I have had a number of managers come to me very concerned that their committee will not support an extension of their caretaking and letting agreements. They have the distinct impression that, if the committee does not support the “top-up”, any extension will not happen. Obviously, a top-up which is supported by the committee will invariably be passed at a General Meeting of the Owners Corporation/Body Corporate. A top-up that is not supported by the committee is going to be much more difficult to pass. However, don’t despair! As an owner of a lot, you have a right to place a motion on the agendaRead More →

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