Body Corporate in relation to a strata scheme means the controlling body that is made up of all the lot owners in the scheme primarily to administer, manage and control the strata site.

There are Benefits to Developers of Strata title properties by engageing a Strata Title Manager. See the attached 'flyer' relating

ie. Body Corporate Under the latest type of legislation relating to Villas, Town Houses, Flats and Home Units, the control and administration of common property is vested in a statutory Body Corporate which comes into existence automatically on the registration of the strata scheme, and to which the provisions of the Companies Act do not apply. The registered proprietors of the units are the only members of the Body Corporate. 

 

A flow chart of how the Body Corporate comes into being follows:

• The stratum plan is prepared in the final weeks of construction
• The plan then goes to council for ‘final sealing’ after checking for compliance with the permit is determined
• Once sealed, the plan goes to the Lands Titles Office with the Draft First By-Laws
• Titles are issued and the Draft First By-Laws become the First By-Laws
• At this finite point in time, the developers own all the units and therefore constitute the Body Corporate, acting under the First By-Laws
• When transfers to the new owners are lodged (i.e. settlement occurs and as such the new owners take title) they then gain membership on the Body Corporate. After a period of 3 months has elapsed OR 50% of the units are settled, the developer must hold the first Body Corporate meeting
• As such, at that first Body Corporate meeting that will be run by the the developers, the owners will all be Body Corporate members