Responsibilities of Body corporate management in Gold Coast

A body corporate is also known by the name of Owners Corporation.  It is basically a team of owners residing in a same community.  Their main objective is to take care of common property of a community such as Neighborhood Park, pool, staircase and parking area.

There are certain rules and regulations which need to be followed by the body corporate management.  Some of the basic responsibilities of a body corporate in Gold Coast include management of funds collected by the residents for maintenance purposes, tracking record of all the people residing in a community, preparation of draft budgets and levy schedules.

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Another major responsibility of a body corporate is to provide its residents with liability insurance cover. Also the entire building should have proper insurance coverage so that it can be brought to its original condition if any natural calamities such as earthquake, fire or flood may occur.

To conclude, we can say a body corporate or owner’s corporation administers all the minor and major issues ranging from clerical errands to setting up the fiscal records. If you would like to take any consultation regarding strata management services, feel free to contact us anytime.