FAQs – Colcan Strata

We understand that you need support and administrative expertise to meet the complex challenges and responsibilities that face Bodies Corporate.

We aim to provide you with the information and assistance that Owners require to ensure your Body Corporate achieves the best possible outcomes for all Owners.

Following are some regularly asked questions:

What is a Body Corporate?

Your Body Corporate is a legal entity made up of the Owners of all of the Lots in the scheme.

A Body Corporate Manager is a contractor, engaged by your Body Corporate, to carry out various secretarial and financial functions on your behalf.

What does my Body Corporate do?

Your Body Corporate is responsible to ensure that the Common Property is properly maintained, and that all proper Records are kept.

How do I do that?

By creating a partnership with appropriately trained and qualified people who will assist and guide and educate you.

Did You Know?

The Body Corporate Manager is not the Body Corporate.
Body Corporate levies are paid directly into the Body Corporate’s bank account.
The Body Corporate Manager has no authority to make decision for the Body Corporate and its Committee.
The Body Corporate Manager may not approve Owners’ requests.
Compliance with Work Health and Safety, Common Law safety, Fire safety, Asbestos management, Insurance Valuation and Sinking Fund obligations, are duties imposed on the Body Corporate. Your Body Corporate Manager may assist with arranging Audits and Inspections and Reports from suitably qualified suppliers, at the instruction of the Body Corporate.
Unless specifically qualified to do so, a Body Corporate Manager may not provide formal legal advice, or any advice in relation to other legislation which may impact on the operation of a Body Corporate.

Who does what? Clearing up the confusion.

The Body Corporate – You & Your Fellow Owners

Maintains, manages and controls the Common Property for the benefit of all Owners.
Approves the budgets, and the amounts to be paid by the Owners, as may be required to ensure that the Body Corporate has sufficient funds to meet its expenses.
Makes decisions at Committee or General Meeting level and enforces By Laws.
Arranges Insurance for the Common Property and Buildings, including Public Liability cover, as required by the legislation.
Manages and maintains Body Corporate Assets and approves expenditure of Body Corporate funds.
Keeps records for the Body Corporate including Minutes of meetings, the Roll of Owners details and financial accounts. Also maintains various Registers containing information relating to Assets or Improvements to Common Property made by Owners and details regarding Contracts.
Approves the Agenda and Meeting Material before it is distributed (other than Owners motions which must be included without change).
The Chairperson chairs all meetings at which he/she is present. If the Chairperson is not present then those persons present, and entitled to vote, will decide who is to be Chairperson for the meeting.

The Body Corporate Manager – Colcan Strata

Carries out the duties contained in the Administration Agreement with the Body Corporate.
Provides Financial Statements and reporting to the Body Corporate.
Prepares draft Budgets for the Committee to consider and alter and approve prior to circulation to all Owners for voting at the Annual General Meeting.
Has NO decision making power and may only act under the instructions of the Body Corporate and its Committee. Only the Body Corporate, i.e. the Owners, can give approval for an application submitted by any Owner.
Assists the Body Corporate to arrange Insurance each year, as instructed by the Owners at the time of the Annual General Meeting, and attends to payment of renewal premiums.
Assists to maintain the Body Corporate’s records in accordance with legislative requirements and conducts banking for the Body Corporate under its instructions.
Distributes Correspondence, including Meeting Agendas and Minutes of all Body Corporate meetings.
Prepares meeting material and Minutes of meetings at the direction of the Committee. A Body Corporate Manager does not have any authority to submit or amend motions, or to add items to an Agenda.
May not chair a meeting even if the Chairperson is not present. Some exception allowed under the rules governing Adjourned General Meetings.

* The foregoing information is general in nature only and does not constitute legal advice. This information is provided, and intended, as a guide only and does not constitute a complete record of the responsibilities of a Body Corporate or its appointed Body Corporate Manager.