If you have a unit title property, like an apartment or townhouse, or are thinking of buying one, it’s important to know what’s involved.
The Unit Titles Act 2010 is the law governing building developments where multiple owners hold a type of property ownership known as a unit title.
When you purchase a unit, you automatically become a member of the body corporate. All unit owners in a unit title development make up the body corporate.
All unit owners, occupiers, tenants and the body corporate must follow the body corporate operational rules that apply to their development.
A body corporate holds meetings to discuss and make decisions about matters affecting the unit title development, such as levies, insurance and repairs.
The body corporate pays for any maintenance or repairs it carries out, including any property management charges, through levies on unit owners.
The body corporate has a number of financial powers and responsibilities under the Unit Titles Act.
Additional responsibilities apply when leasing and selling a unit in a unit title development.
The Unit Titles Act 2010 provides for a fully integrated dispute resolution service for unit title disputes.
You can refer to these templates for examples of long-term maintenance plans and matters contained in the Unit Titles Regulations such as pre-settlement disclosure, proxy appointment forms and more.