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Most people have heard of the term “conflict of interest” and have a general idea what this means in business. However; the term is used for a specific set of circumstances when it comes to Bodies Corporate. Whether or not a conflict of interest exists for a Body Corporate member, we firstly need to apply…
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According to the recent National Strata Data Survey, the value of insured assets of strata and community properties in QLD approaches $200 billion. With the size, scale and complexity of strata assets there is risk, including financial risk which must be managed. Committee members can mitigate financial risk and ensure their fiduciary obligations are met…
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A common enquiry for our Office is about the responsibility for pest control, particularly in relation to termites. This is not surprising, given the amount of damage a pest can cause. There have also been adjudication orders regarding pest control. As always, this information is not meant to be legal advice and our Office certainly…
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Does your building have retail or commercial lots below or mixed with the residential lots? Chances are your Body Corporate is part of a Building Management Statement (BMS). What is a BMS I hear you ask? Firstly, we will provide the non-technical answer to give you an overview of when they apply and the general…
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