Strata/Body Corporate Meetings - What You Need To Know As An Investor

Dilleen Property Group 2022

A client recently asked the question “do I need to attend the body corporate/strata meeting for my investment property located in a complex?”. The client who asked this question had bought a townhouse in Brisbane, which consisted roughly of 20 townhouses in the complex and it contained Body Corporate. In Queensland, they call essentially call Strata as many know it, Body Corporate. Usually every 12 months there will be an annual general meeting when you buy either a townhouse or a unit, where usually they will vote on different issues raised by owners and tenants.

The Strata/Body Corporate will usually have a committee of people who vote on a number of things in the annual meeting. As an example, a unit complex of 100 properties may have 5 owners that vote on the issues raised within the unit complex. The committee members are usually people who live there, they are not investors. These 5 owners can make decisions on maintenance repairs, the bylaws and making sure these are followed by tenants and residents, and Body Corporate levy’s.

When the client received the letter from the Body Corporate regarding the annual general meeting, they were unsure whether to attend or not. This was also something that I was unsure of when I bought my first investment property when I was younger. The property I had bought was located in the Central Coast of NSW and was a 2 bedroom unit among 12 other units in the complex that had strata. As it was my first property, I decided to take the day off work and attend the meeting. Essentially, out of the 12 owners only 2 showed up.

Looking back at this experience now, I did not need to attend this meeting in my opinion. If you are an investor, I don’t believe you need to attend these meetings. If there is an issue raised that is urgent by the committee, you will be notified via email or a phone call.

Yes, they may vote to fix different areas and fix things in the complex that may affect you such as strata levy’s, and yes, they may be discussing important things, however I do not find it necessary to attend , especially if you have bought an investment property interstate. When I do receive these letters I have a glance over it and either file it if it’s important or get rid of it.

Disclaimer: This is not intended as legal, financial, or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature, you should seek advice from a qualified and registered legal practitioner or financial or investment adviser.