It starts with a phone or an email – a familiar story with a plot that plays out the same way.
How It Starts
The group of 6 townhouses or that block of 10 apartments. The owners corporation manager (formerly known as body corporate manager) is either a sole trader or the local real estate office.
The owners corporation (formerly body corporate) contains only a few shared cost items: the building insurance, common electricity and maybe a gardener. The manager’s role elementary and not too involved; levying and collecting funds from owners.
It was also probably likely that the owners corporation manager maintained the one bank account that lumped and muddled together all the payments from all the buildings they managed. The last Annual General Meeting was not necessarily that ‘annual’ having being held two and half years ago and owners, over time, grow accustomed to paying their levies without question.
Then One Day…
The manager packs up and skips town. Perhaps it’s sunny Queensland or somewhere further a field.
Any books and records that had been kept now almost impossible to retrieve. Financial records, building manuals, insurance claims, meeting resolutions and minutes, details of leases/licences…gone.
And what about those funds? How do you ascertain the financial position of your owners corporation? Will it be possible to recover any funds that belong to the Owners?
Has This Happened To You?
Write to us at email@example.com and tell us your runaway Body Corporate Manager story.