Body Corporate
When a plan of a unit development is deposited in the Land Titles office under the Unit Titles Act, a body corporate is formed to attend to the common interests of the unit owners. The body corporate secretary acts on behalf of all of the owners. Thompson Wentworth typically acts as the body corporate secretary for office, residential and industrial unit developments.
Our role as the body corporate secretary typically includes:-
- Holding Annual General Meetings and recording minutes
- Maintaining a register of owners of units in the development
- Ensuring the body corporate effects the necessary insurances and ensure valuations for insurance purposes are completed
- Managing a fund for repairs, maintenance and ongoing costs
- Ensuring annual accounts are prepared and keeping financial records for the body corporate
- Liaising with local councils as appropriate