Bodies of the future
Victoria’s body corporate laws affect 750,000 people each day. But how much do you know about your body corporate? The 65,000 bodies corporate operating in Victoria provide a legal framework to allow for the enjoyment of common property. However most Victorians do not know how their body corporate operates.
When you buy a unit you buy a share of common property. If the common property is controlled by a body corporate you automatically become a member of that body corporate. As a body corporate member, matters such as maintenance, repairs and insurance of the common property are your responsibility. Not just on your property but for the property you share with others.
The current workings of Bodies Corporate may be affected depending on the outcomes of a review being conducted into the effectiveness and efficiency of the Subdivision Act 1988 as it relates to the creation and operation of bodies corporate.
The Future Directions Paper released by Consumer Affairs Victoria contains proposals and options to improve the effectiveness and efficiency of the general operations of bodies corporate and is part of an ongoing consultation and review process.
The issues addressed in the Paper include:
- information provision
- dispute resolution
- protection of body corporate funds
- maintenance of common property
- management and governance.
An information brochure for people buying properties involving bodies corporate is also available from Consumer Affairs Victoria
The brochure and the paper are available by calling the Consumer Affairs Helpline on 1300 55 81 81 or by visiting the Consumer Affairs website. More information From the Bookshop
J. Van Dorr, Complete Guide to the Law & Managing Bodies Corporate, $45.
Russell Cocks, 1001 Conveyancing Answers, $165.
G. Airey, Buying & Selling Property in a Nutshell, $19.95.
Disclaimer:
The information in this newsletter is not intended to be a complete statement of the law relating to the issues raised. Accordingly, no person should rely on this information without first obtaining specific advice from our office. | 
