Under the Residential Tenancies and Rooming Accommodation Act 2008 the by-laws of the Community Titles Scheme are both terms of the residential tenancy agreement and they must be given to the tenant by the landlord when the tenant is given the agreement for signing. Adjudicators have found that a by-law requiring a copy of the by-laws to be given to all tenants (whether short or long term) by their landlords, is lawful. So, whether you are letting through an agent on a 2 year lease, or overnight through Air BnB, the best policy is to ensure that your tenant gets a copy of the by-laws, upfront.
Body Corporate - 101 Tips
If a Body Corporate Manager, or caretaking service contractor, is going to receive a commission from the insurer (or a related party) then before the Body Corporate enters into the insurance contract the commission must be disclosed. If you have received a disclosure, take the time to understand what the commission is for; for example is it just a referral fee or are there obligations that come with the commission? Common obligations can include providing assistance to the insurer with claims processing. Only after you have worked out what the commission is for, can you properly understand if there is a potential for a conflict of interest between the obligations which your Body Corporate Manager or caretaking service contractor owes you, and the obligations that they owe the insurer.
Any building contractor will tell you that preventative maintenance is better than the cure. Replacing window seals or silicone is a lot more cost effective than dealing with rotten internal timbers or swollen plaster board. Treat owner’s maintenance complaints as an early warning system. Investigate, consider and act. Delay or denial will cost more in the end.
When owners are being called on to vote on major spending, normally they are supposed to receive at least 2 quotations. Often times those quotations can be quite extensive. For example, 2 building contracts for (say) renovating the swimming pool area, can amount to hundreds of pages. If the quotations are voluminous then instead of providing them with the meeting notice, a summary of the quotations and advice about where complete copies may be inspected can be provided. If you use this exception to save on postage and photocopying costs, make sure that your summary is accurate and that the full copies are readily and freely available to obtain.
The upfront costs of new utility infrastructure, like solar PV or central gas hot water, can be very difficult to get owner approval for. How then can you acquire the equipment, so that you can access the savings? Some utility service retailers offer long term contracts, with the supply of the new equipment thrown in. While you may think that makes the new equipment, or the utility service (gas, electricity etc) more expensive, if you do the numbers carefully you will find that is not necessarily so. The power of bulk buying plus the certainty of a long-term supply contract can generate sufficient savings to ensure that the offer is truly competitive; now and into the future.