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Budgeting for expenditure (particularly over the long term) is more an art than a science, but every body corporate must have budgets for their administration and sinking funds. The administration fund should (in theory) zero out every year. You should raise money for the expenditure over the next 12 months, and spend it. You know…
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The first round of community education seminars held in South East Queensland concluded with over 500 stakeholders in attendance. A complete sell out for the Brisbane event demonstrated the high level of interest in Strata Law Reform and what it means for the industry. Keynote speakers Commissioner Chris Irons, Legal Expert Frank Higginson (Hynes Legal)…
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Part 2 – Enforcement of Body Corporate Debts Striking levies is one thing; getting paid on time is another. Recovering levies from owners is an important role for the Body Corporate and one that should be taken seriously by the committee, taking into account any special circumstances that may arise. The timely collection of levies…
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The world of body corporate is one in which there is a large range of options and decisions to be considered. Unsurprisingly, therefore, it is common that my Office gets asked questions of the “Do I have to…?” variety. Sometimes the answer to such questions is a bit more involved than a simple yes or…
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