The concept of ‘rainy-day’ money doesn’t just apply to individuals; it should apply to bodies corporate as well.

As we all know, rainy-day money is money we keep to one side for the unexpected expenses and emergencies we may face. It is important because it provides financial security and helps us cover unexpected costs if they arise.

For bodies corporate though, there often isn’t any rainy-day money - which regularly finds bodies corporate in strife.

Strife doesn’t just mean special levies and/or a strata loan, it’s everything else that may come with it; the associated legal fees, various administration costs, town hall affairs and time delays that are required to get the requisite approvals needed to secure the funding to do the work that the body corporate is statutorily required to perform.

Bodies corporate in Queensland are obligated to adopt two budgets each financial year...

We've reached the halfway point of our October Strata Community Education Seminar Series!

Following three successful events across the Sunshine Coast, Gold Coast and Mackay, we're now turning our attention to Brisbane next Wednesday, 21st of October!

It's been fantastic to see so many committee members, lot owners and strata community representatives come together to learn more about body corporate finances, share experiences and engage directly with our expert panels and industry suppliers.

With two events still to come, we're excited to continue the conversation as we introduce our next lawyer guest speaker, Jessica Cannon, Practice Leader at Chambers Russell Lawyers, who will be joining us in Brisbane...

A major repair lands on the agenda. The building needs work…  and soon.

While agreeing on the scope and budget is challenging enough, an even tougher question every body corporate faces is: how to fund the capital works?

Whether it’s façade repairs, waterproofing, lift upgrades or compliance works, every scheme ultimately has three ways to fund capital works.

How to fund strata capital works...

Is Your Sinking Fund Still on Track? – By Strata Compliance Solutions 

Meet Andrew Staehr: Planning Beyond the Budget – By Smart Strata

Small Issues, Bigger Costs: The Value of Early Reporting – By AllComClean

Getting Major Spending Approved - By Mathews Hunt Legal

Who Does What on a Committee? - By the Commissioner for BCCM

Body Corporate Financial Decisions: Meet Peter Hunt – By Smart Strata