FAQ: What is a Body Corporate/Owners Corporation?
Some properties share community space with other homeowners. Townhouse and unit developments, for example, may share gardens, walls, driveways, letterboxes, or fences. When this happens the Body Corporate (also called an “Owners Corporation”) manages these community spaces (also called “common property”).
What is a body corporate?
How can I determine if my property is affected by a body corporate?
How is the management of common property typically handled?
What are contributions in relation to a body corporate?
What does the insurance for a body corporate cover?
Does owners corporation insurance cover the contents of individual properties?
Remember, being part of a body corporate or owners corporation means sharing responsibility for the management and maintenance of common property. Understanding your rights and obligations as a member is essential, and it’s always a good idea to consult with your body corporate manager for any specific questions or concerns related to your property and the community.