What is a body corporate report?
In Queensland, Australia, a Body Corporate is a legal entity that manages the common property and assets of a strata-titled property, such as an apartment complex or townhouse development. The Body Corporate is responsible for maintaining and insuring the common property, arranging for repairs and maintenance, and enforcing the bylaws of the strata scheme. Body Corporate reports are documents that provide information about the financial and administrative activities of the Body Corporate, including a budget for the upcoming financial year, a statement of income and expenses, and a summary of the minutes from the last meeting of the Body Corporate Committee. These reports are typically provided to the owners of the strata-titled properties on a regular basis, such as annually or quarterly.
Asset Economics | Body Corporate reports
Body Corporate Management companies juggle many responsibilities including ensuring insurance valuations, sinking fund forecasts and Workplace Health and Safety audits are current.
Trust our team of experts to provide accurate valuations, forecasts and WH&S reports.
1. Sinking Fund Forecasts
Sinking Fund Forecasts estimate the likely spending of a sinking fund to keep a building running over a period of time. This tells the Body Corporate what to charge owners as part of their fees to ensure the sinking fund will have enough to meet any regular expenses and avoid levies being raised unexpectedly.
Our expert team works closely with Body Corporate Managers and the committee to ensure all requirements within the building are covered and provide a balanced outcome at a realistic cost. We use maintenance costing rates that are reasonable but not excessive. Our reports include suggestions that lengthen the life and reduce the maintenance costs of items, saving you or your clients’ money.
2. Insurance Replacement Valuations
Insurance Replacement Valuations assess the cost to replace a building in the event of a total loss. It is essential these valuations are conducted regularly as building costs can change significantly from year-to-year and insurance cover will need to be adjusted accordingly. Our expert Quantity Surveyors will ensure your building has the right level of cover, saving you or your clients’ money.
3. Workplace Health and Safety Audits
Workplace Health and Safety Audits are used to ensure the work environment is up to scratch and any current procedures around health and safety meet the correct standards. Conducting regular audits to ensure your building and procedures meet the correct standards reduces the risk of workplace or public litigation relating to injury or loss of amenity due to a situation or condition existing in your workplace or building.
Asset Economics Building Consultants are a team of experienced professionals who understand exactly what is required saving you or your clients money.
The Asset Economics team has successfully prepared tens of thousands of valuations, forecasts and assessments for all types of buildings. So, whether it’s a duplex or the largest scheme in Australia, we are more than capable of getting it done.
We are insured for $10,000,000 Public Liability and $2,000,000 per claim Professional Indemnity.
Our body corporate reports feature:
- Easy-to-read reports
- Efficient communication
- Inspectors who are fully trained building industry professionals with decades of experience in report generation and project management.
Our experience counts
The Asset Economics team has successfully prepared tens of thousands of valuations, forecasts and assessments for all types of buildings. So, whether it’s a duplex or the largest scheme in Australia, we are more than capable of getting it done.
We are insured for $10,000,000 Public Liability and $2,000,000 per claim Professional Indemnity.