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QLD Body Corporate News


August 2022 Newsletter
Welcome to the August edition of Tower News.

Inflation is everywhere in the news at the moment as the sudden spike in the cost of living hits every sector of the economy. Body Corporates can be particularly hard hit by quick changes as they rarely have flexible discretionary expenses to cut back on and decision making over factors such as raising levies and major works tends to take place over months and years.

The industry isn’t really built for a quick pivot to adapt to changing times. The real life impact is that any leeway that schemes have built up managing their schemes for a rainy day quickly gets used up and many sites will have to look at levy increases even at a time when household budgets are tightening.

This month’s lead article takes a look at one specific area of inflationary crunch that some Body Corporates are particularly vulnerable to – automatic rises in the caretaker’s salary. It’s a critical area due to the high value of the agreements and if you haven’t run the figures on how inflation will boost this part of your budget now might be the time to start thinking about it.

Elsewhere this issue:
  • Strata and Short-Term Letting
  • Q&A Body Corporate CCTV Footage
  • Q&A Can we Fundraise to pay for common property repairs?
  • and much more.....

Tax Returns
The end of the 2021/2022 financial year is here, so it is time to ensure you have everything you need to prepare your income tax returns. We can provide owners with a levy contribution summary/tax report for the tax return at a cost of $7.95. Please email info@towerbodycorporate.com.au to order your report.

Sign Up For Levy Notices via Email
We continue to encourage as many owners as possible to sign up to receive levies and notices by email. Unfortunately, the post is slow and inconsistent at the moment while emails are fast and guaranteed. Signing up also helps save your plan money as distribution costs lower. We need to receive notification in writing to make the change 'Please send my notices/levies by email' is sufficient.

Use this button ↓ to advise your body corporate manager or mail our general inbox at info@towerbodycorporate.com.au.
Send Me Notices / Levies by Email

Get a Reward for Sending Referrals Our Way
We ❤️  referrals. Do you know someone who is looking for a body corporate manager? Refer them to us and if their body corporate signs a minimum 12 month contract, we'll very happily give you a $250 gift card as a thank you.

Contact us: info@towerbodycorporate.com.au
Kind Regards,
 

The Tower Body Corporate Team
 

Schemes with caretakers may be particularly affected by high inflation


Tower Body Corporate
How will higher inflation affect price increases built into your caretaker’s agreement? We ran the figures. You may be surprised!

Read more.....

Strata and Short-Term Letting: The Facts – And The Options


Chris Irons, Strata Solve + Michael Kleinschmidt, Stratum Legal
The recording of this webinar presents two strata sector experts outlining the strata short-term letting facts and, crucially, the options.

View Now.....
 

Q&A Can we Fundraise to pay for common property repairs?


Michael Kleinschmidt, Stratum Legal
Q: We have a large common property expense of $1-1.5 million coming up within 12 months. If we hold an event and fundraise for some of the funds, how do we distribute this money to lot owners?

Read more.....

Q&A Body Corporate CCTV Footage


Chris Irons, Strata Solve
Q: Our body corporate has installed CCTV cameras. Vision from all cameras is broadcast to all owners. One camera has a clear vision of inside my garage which is next to a fire exit. The garage is part of my lot. Is it legal for the Committee to broadcast this footage live, 24/7?

Read more.....
 
 
 

The QLD Strata Magazine
August 2022

  • Is now the time to review your flood cover?  
  • Application to install an EV Charger denied. What do I do now? 
  • Capital works / maintenance plans: getting it right 
  • Who maintains the roof top garden?
  • Do we need to supply quotes with our submitted motion? 
  • Dealing with relentless bylaw breaches
  • Water run off from the upstairs tenant’s balcony garden
  • Can we make a claim against the certifier for building defects?
Read The QLD Strata Magazine Now
 

Latest News.....

 

Electric vehicle charging stations and electric vehicle carparks

The Urban Developer
The transfer of electrical energy via publicly accessible distribution equipment and the allocation of dedicated electric vehicle (EV) carpark spaces raises safety concerns for Queensland Fire and Emergency Services (QFES) with regards to Firefighter Intervention.
 

How to Get Solar as an Apartment Owner: Your Options Explained

Solar Matters
There are now several options available that make solar a possibility for apartment dwellers in Australia – even if not in the conventional sense. Here are three options to consider if you’re interested in going solar as an apartment owner.


Are resident managers entitled to leave?

Will Kenny, Mahoneys
As a contractor, managers do not get the same entitlements as an employee under the Fair Work Act. 


Australian Cities Lead World Waterfront Premiums

The Urban Developer
The premium price is 121 per cent of Knight Frank’s International Waterfront Index for Sydney, one of three Australian cities in the top 10 with Queensland's Gold Coast third and Perth in fourth with 71 per cent and 69 per cent respectively.