The new Act is not yet in force as the regulations are being finalised. We expect it later this year or early next. Those involved in unit titles will need to be ready as the transitional arrangements are concerned only with the body corporate rules and maintenance. We have set up a discussion group on LinkedIn " ". We will be regularly posting blogs here too. We are especially interested in helping the organisations that manage unit titles transition smoothly into the new regime, and effectively use the new tools available to them.
The following are coming soon:
- A proposal as to how the new unit titles disclosure obligations could be implemented so as to better assist unit owners.
- Tips for managing the conversion of existing body corporate rules to become "operational rules" for unit titles.
- An analysis of when special and ordinary resolutions are required.
- A summary as to the impact of the Act on FDUs and ideas about what to do with existing FDUs.
- Suggestions as to an easy way to manage the reassessment of what we now call unit entitlements.
- An analysis as to whether existing management contracts can be challenged.
- A proposal for managing units owned by offshore owners.
- And more…..