Sinking funds are common in the management of commercial property. Increasingly they need to be considered in residential developments when dealing with the sale and purchase of the property.
Tag Archives | Unit Titles Act 2010
As 1 October 2012 approaches there is a big issue looming in addition to sorting out your rules. It’s the change in the maintenance regime. Not so much the compulsory requirement that a body corporate have a long term maintenance plan, which everyone seems to be on top of.
The impact of the Unit Titles Act 2010 on developers- Disclosure requirements in general are introduced in a previous blog. What follows is an analysis of the specific implications for developers and the additional “turnover disclosure” that is relevant when a development is completed.
Once the UTA 2010 commences, there are transitional arrangements that apply for 15 months. This is a short summary of the options, useful for a body corporate secretary/manager.