Body corporates: The basics

Body corporates: The basics

Body corporates: everyone’s got an opinion on them!

The role of a body corporate (also known as an owner’s corporation) is to ensure that a communal building (i.e. one with apartments or units and communal spaces) is well maintained.

They typically take care of insuring a building adequately, cleaning and lighting any communal areas, arranging garden maintenance and paying for communal utilities.

Owners pay for this privilege – and the fees charged by body corporates can differ substantially depending on the management of the body corporate and the features of the development itself.

For some investors, purchasing property within a body corporate is a no-no – they consider the fees too heavy a drain on their returns. For others, investing within a body corporate is ideal – they are comforted in the knowledge that their property is in a building which is cared for, retaining its value into the future.

Thinking about buying an investment property within a body corporate?

Before you sign on the dotted line, consult with our property management team to ascertain your potential rental return – you’ll soon have all the information you need to make an educated decision.