Unit owners need to be aware of new legislation relating to Contribution and Interest Schedule Lot Entitlements, which are used to calculate the annual fees payable by each owner within a body corporate, according to leading Queensland body corporate management company, Archers Body Corporate Management.
The new “Body Corporate and Community Management and Other Legislation Amendment Bill 2010” came into force on 14 April 2011 and has implications for every member of a body corporate in Queensland.
Archers Body Corporate Management director Andrew Staehr said while the legislation introduced many changes, one of the most significant would mean that an owner who had been affected by a lot entitlement change could apply to have the lot entitlements for their complex reverted back to what they were before being changed (pre-adjustment entitlements).
“There have been a number of court cases where penthouse and larger unit owners have successfully argued that they shouldn’t have to pay significantly more than other unit owners which led to changes in lot entitlements across the board,” Mr Staehr said.
Mr Staehr said the new rules would allow an owner who had been affected by a lot entitlement change to lodge a motion with their Body Corporate Committee to have the entitlements changed back to the pre-adjustment entitlements.
An owner will have until the 14th April 2014 to lodge a motion but once lodged, there was a process which must be followed by the body corporate to revert back to the pre-adjustment entitlements which involved, amongst other things, determining whether any units within the scheme had been affected by one of the following criteria:
- a lot has been subdivided;
- two or more lots have been amalgamated;
- the boundary of a lot has changed; or
- the scheme has been affected by a material change that happened after the pre-adjustment order entitlements were decided
Mr Staehr said there are also a number of other changes introduced by the legislation including additional requirements for Disclosure Statements and rights of termination; and the introduction of a new “Two Lot Scheme” module to make management of these smaller schemes much less onerous for their owners.
“Undoubtedly unit owners will have a myriad of questions relating to the new legislation and what it means for individuals and bodies corporate. Archers Body Corporate Management have secured some of Queensland’s leading body corporate lawyers who will be providing a detailed explanation of the new legislation as one of the main topics at the first round of Education Seminars for 2011 Mr Staehr said.
The Education Seminars, to be held throughout Queensland, are free for all to attend and will also include information on disaster planning with tips on mitigating damage in the event of future natural disasters, which is very relevant given the effects of Cyclone Yasi and the widespread flooding throughout Queensland.
The Seminars will be held in the following locations and times:
- GOLD COAST | 4th May 2011 5.30-7.00PM | Level 2, Q1 Resort & Spa, Hamilton Avenue, Surfers Paradise RSVP by 3rd May 2011 to 07 5503 0700
- BRISBANE | 5th May 2011 5.30-7.00PM | The Landing at Dockside, 44 Ferry Street, Kangaroo Point | RSVP by 4th May 2011 to 07 3002 2600
- SUNSHINE COAST | 10th May 2011 4.30-6.00PM | Rumba Resort, The Esplanade, Caloundra | RSVP by 9th May 2011 to 07 5458 4500
- WHITSUNDAYS| 12th May 2011 5.30-7.00PM | Shingley Beach Resort, Shingley Drive, Airlie Beach | RSVP by 11th May 2011 to 07 4946 4508
- PORT DOUGLAS | 18th May 2011 5.30-7.00PM | Sea Temple Resort & Spa, Mitre Street, Port Douglas | RSVP by 17th May 2011 to 07 4031 6633 FREE RETURN BUS PROVIDED FROM CAIRNS & PALM COVE – Please register
- TOWNSVILLE | 19th May 2011 5.30-7.00PM | Rydges Southbank, 23 Palmer Street, Townsville | RSVP by 18th May 2011 to 07 4031 6633
For more information or for assistance with any aspect of body corporate management, please contact your nearest Archers Body Corporate Management office by visiting our website www.abcm.com.au or email info@abcm.com.au
