We have an AGM for a unit in which we rent out. I rang the body corp manager but she didnt seem to answer my question. She kept saying its in the annual report, but I have searched it several times an cannot find anything. On the agenda is re-appointing the manager fee of $150 per lot per annum. My mum has had the property for over a decade and has never paid a re-appointment fee. She only makes quarterly payments.
1. Is this a new law in the Owners Corporations Act?
2. If the majority vote 'no' does this mean that we dont want this particular company to run the body corp? Or does it just mean that we dont pay the $150 fee p.a?
Cheers
What State are you referring to.
Richard Taylor | Australia's leading private lender
im from vic
I think you will find that the $150 per lot refer to the Body Corporate Managers annual fee for managing the complex.
It is usually incorporated into Budget for the Administration Fund and will form part of her quarterly contributions.
If you ask for a copy of the Body Corporate Managers Managing Agreement it will set out the Term in which they have been appointed. Normally this would be for say 3 years and then would on expiry would become a "minute" item at the Annual General Meeting.
I have never come across any BCM charging to be re-appointed. Of course i stand to be corrected in todays climate.
Richard Taylor | Australia's leading private lender
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