Body Corporate and Community Management Northern Territory presentation
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Body Corporate and Community Management Northern Territory ...
Body Corporate and Community Management Northern Territory
The Legislation in Northern Territory, Darwin called the Unit Titles Schemes Act 2009 and Unit Titles Regulations , in which the Body Corporate must comply.
Each body corporate has an Administration Fund that is reviewed in the Annual General Meeting.
The Administration fund budget covers items such as general maintenance, Insurance Premiums and small recurring expenditure.
The sinking fund budget is used for future and major capital expenses, such as painting, Pool or fence replacement that is the responsibility of the body corporate.
Complexes are either self-managed or managed by a body corporate manager.
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