A growing number of apartment and townhouse complexes are managed by bodies corporate. What should you check before you invest? Kristina Greene gets a few pointers.
Thursday, November 24th 2005, 5:57PM
by The Landlord
The trend toward apartments and townhouses has created an explosion in the numbers of people living in unit-titled buildings managed by a body corporate.
But as the numbers grow, so does the complexity of owning and living together in increasingly subdivided properties. And rocketing house prices have raised owner expectations.
"It is becoming more complicated as properties are being built on a larger scale, while units have generally become smaller than ever before," Paul and Stella Winstanley write in their book The Body Corporate Book. All You Need to Know. "Advanced facilities such as swimming pools, air-conditioning and automated garaging are making buildings more difficult and costly to run."
The Winstanleys have looked at the pros and cons and come up with a list of suggestions:
