Gold Coast Investment Property & Body Corporate Tips

Posted on: 04.04.2016

Ensure Tenants and Property Managers have a copy of By-laws

Tenant’s and Property Manager’s don’t always have a copy of the by-laws and it’s important they do.

How else can they be expected to follow the rules of the complex?

Scan and email a copy of these to the Property Manager or Tenant if they do not have a copy, it’s the quickest way to help ensure everything runs smoothly during the tenancy period.

Keeping your details current

Always update your details with body corporate when personal details like your address changes, also let them know if you’ve changed property managers.

This will help you and your property manager stay up-to-date with important information, fees and payments.

Get on-board the Body Corporate Committee

This is a great way to keep an eye on the well-being of the complex and ultimately the value of your asset.

Things like complex appearance and regular general maintenance can make a big difference to rental income and sale price.

Even if you don’t live near your Gold Coast Investment Property, you can still have input as a committee member via email/phone.

Changing Body Corporate Manager

If you feel the Complex is being neglected or poorly maintained, change Body Corporate Manager.

As a member of the committee you can bring it up at the AGM. Provide several quotes and select one with the other committee members.

Sinking Fund

This is a fund that is designed to restore and maintain the property back to it’s original condition.

It’s always important to keep a close eye on how ‘healthy’ this fund is. If it’s decreasing as opposed to increasing, find out what it’s being spent on. Ensure maintenance is prioritized logically and that gardens aren’t being fixed before leaking gutters etc.

For More info Check out www.qld.gov.au/law/housing-and-neighbours/body-corporate/

Good Luck and all the best from the Uprosper Team!