Go to the All Accounted For website
 

August 2024

Stay in the loop with the BC Noticeboard - Your Body Corporate Quarterly Newsletter 

 

- Welcome Message

- Important Notices & Reminders

- A Guide to Body Corporate Levies: What Drives Levies and How Are They Set?

- 4 Ways To Save Money on Maintaining Your Unit Property

- Winter Maintenance Checklist

- Stay Connected: Get weekly updates on our Facebook page!

 

WELCOME 

Welcome to the second quarterly BC Noticeboard of 2024. Can you believe we're already more than halfway through the year? Time is certainly flying by, and it feels like December will be here before we know it!

 

In light of the recent government budget announcement and the current economic landscape, we understand that the rising cost of living is still a concern across the country as inflationary pressures take effect. Body corporates can be particularly affected by sudden changes to the economy, as it can be hard to adjust when levies are fixed a year in advance and decisions regarding factors like major works can often take several months.

 

While there are no definite solutions, active management can help sites prepare to move quickly if necessary. In practice, active management means committees need to be conscious of the changing environment, understand their costs, and thoroughly budget so they can assess their building's position and potential requirements. Here at CBCS, our team can assist with this process and guide your Body Corporate every step of the way.

 

As always, effective communication within your Body Corporate remains paramount, and attendance at your AGM is crucial for transparency and essential decision-making. If you are unable to attend, you can appoint a proxy to vote on your behalf or submit your vote by post.

 

Remember, we are always here to help and will guide your Body Corporate through these challenges as best we can. Please do not hesitate to give us a call whenever you need us at 04 970 5435.

 

 

PCDS and PSDS Timeframe:

 

Just a reminder, if you have requested a Pre-Contract Disclosure Statement or a Pre-Settlement Disclosure Statement, our standard processing time for these statements is 5 working days. It is important to be aware of this timeframe to ensure the sale of your property runs smoothly.

 

Effective Communication:

 

To ensure prompt action on your Body Corporate query, it's essential to direct it to the right person on our team. Below, we’ve listed each team member you may need to contact along with their email addresses. This should help you identify who to reach out to for your particular concern:

Im an image

Gaurav Godara

Building Manager

For enquiries regarding building management, please email: bm@cbcs.nz

 

 

To read Gaurav's short profile via our website, click on the button below.

Read more - 
Gaurav Godara
Im an image

Lucy McIntosh

Accountant

For matters concerning finances or any levy-related issues, please email: finance@cbcs.nz

 

To read Lucy's short profile

via our website, click on the button below.

Read more - 
Lucy McIntosh
Im an image

Ashleigh Marr

BC Manager

As your primary point of contact for all administrative matters please email: admin@cbcs.nz

 

To read Ashleigh's short profile via our website, click on the button below.

Read more -
Ashleigh Marr
Im an image

Dakota Scott

BC Coordinator

As your primary point of contact for all administrative matters please email: admin@cbcs.nz

 

To read Dakota's short

profile via our website, click on the button below.

Read more -
Dakota Scott

Overdue Levies: 

 

A reminder that having overdue levies or outstanding amounts on your account will affect your eligibility to vote at upcoming annual general meetings.  Additionally, it will prevent you from participating in the committee or becoming the chairperson.

 

We understand that unforeseen circumstances may arise. If you find yourself facing overdue levies, we encourage you to reach out to us at finance@cbcs.nz. Our team is here to help and discuss potential payment plans to assist you.

 

A GUIDE TO BODY CORPORATE LEVIES: WHAT DRIVES LEVIES AND HOW ARE THEY SET?

As a collective of unit owners, you are naturally responsible for the management, repair or replacement of the common property in your Body Corporate. Just like owners of a regular house, if something goes wrong you need to fix it.

 

So, in order to fund the management of the building, the body corporate comes up with a projected budget for what they can foresee will need attention and charges each owner a proportional share (levies).The amount of the levy you need to pay will usually depend on the size of your unit and what assets it includes. 

Im an image

This shared responsibility ensures that the common areas, such as hallways, elevators, and shared amenities, are well-maintained and functional for the benefit of all residents. These levies are typically set by the body corporate, which consists of all the property owners within the complex. But what drives levies and how are they set?

 

The process for setting body corporate levies involves several steps:

 

1. Budgeting: The body corporate prepares an annual budget that outlines the anticipated expenses for the upcoming year. This budget includes items such as insurance premiums, maintenance costs, repairs, utilities, management fees, and administrative expenses.

 

2. Calculation: Once the budget is finalised, the total cost is divided among the unit owners based on their unit entitlements. Unit entitlements are determined by factors such as the size, location, and value of each unit relative to the whole complex.

 

3. Approval: The proposed levies are presented to all unit owners for approval at the annual general meeting (AGM) of the body corporate. Owners have the opportunity to review the budget and levy amounts and vote on whether to accept them.

 

4. Implementation: If the budget and levies are approved by the majority of unit owners at the AGM, the levies are implemented for the upcoming financial year. Owners are then required to pay their levies as outlined in the budget.

 

5. Adjustments: In some cases, adjustments may need to be made to the levies throughout the year if unexpected expenses arise or if the budget needs to be revised. Any changes to the levies must be approved by the body corporate at a general meeting.

 

It's important to note that body corporate levies may vary from year to year based on factors such as changes in expenses, fluctuations in the property market, and the need for major maintenance or repair projects within the scheme.

 

 

When you own a unit property, one of the highest ongoing costs is maintenance and repairs. From regular pest control to emergencies and larger issues, small unresolved problems can create costly issues in the future. Although spending on maintenance now may feel like a restriction to your cash flow, investing in these areas can prevent larger bills in the future, ensuring year-round upkeep of your investment property.

 

Here are 4 ways to save money on maintaining your unit property:

 

HVAC maintenance: Many modern properties today have air conditioning. While this makes living comfortable for tenants, these appliances need regular maintenance to keep them in top condition. Ideally, you should have someone check your air-conditioning and heating units annually. Doing this now can extend the life of the unit by 5 to 10 years.

Roof maintenance: A property’s roof is the first thing that defends a property from the elements, especially rain and hail. If you don’t keep up with annual roof maintenance, your property could end up with leaks that get worse over time, causing costly water damage. Make sure you get a professional to check your property’s roof each year to repair any broken tiles or replace mortar.

Plumbing maintenance: Plumbing problems are another set of small inconveniences that can grow into costly repair jobs if they aren’t fixed quickly. If a tenant reports something like a leaking tap or toilet, make sure a plumber fixes this as soon as possible to prevent further damage.

Pest control: It’s much easier to do annual pest control than try to address an infestation of insects or rodents once they’ve made themselves at home. Annual pest control ranges from under $100 up to around $450, depending on the size of the property and its location. Your property manager should be able to help you book this in, so you can proactively protect your property from creepy crawlies.

 

Consider investing regularly in the maintenance areas above to keep your investment property in good condition year-round.

 

 

As the days grow colder and winter starts to set in, it's essential to safeguard your Body Corporate property from the harsh weather. By staying proactive with maintenance, you can prevent future damage and ensure the safety of all residents.

 

Here are some essential tasks that should be added to your maintenance checklist:

 

1. Clean out your gutters to prevent water damage from overflowing and debris accumulation.

2. Regularly inspect the roof for cracks and loose shingles to prevent leaks and extensive water damage.

3. Ensure outdoor areas are safe to prevent accidents during the dark and icy winter months.

4. Ensure proper insulation is in place – effectively insulated homes are warmer, drier and less expensive to heat. As part of the Healthy Homes initiative, it’s a requirement for all rental units to have both ceiling and underfloor insulation.

5. Maintain trees to prevent damage during winter storms; seek professional assessment if necessary.

6. Check smoke detectors for proper functioning.

7. Inspect windows and doors for drafts, cracks, and leaks; replace weather stripping as needed.

 

CBCS Tip for a Warmer, Drier, and Healthier Property:

 

Natural Ventilation

Inadequate ventilation allows moisture and airborne pollutants to build up inside your property; this can cause health problems for those living in the unit and moisture damage to your property structure and décor.

One of the easiest ways to ventilate a property is to open doors and windows for a few minutes to encourage fresh airflow. Natural ventilation is not only a better choice for the environment than artificial cooling such as air conditioners, but it’s also free. By opening the door or a window it will allow moisture and airborne pollutants to escape.

 

Need help? 

 

Did you know that we can help organise your property maintenance or provide personalised suggestions based on your property? Give us a call today to find out more on 04-970-5435.

 

Stay Connected! Receive our weekly updates
providing you with tips, advice & more!


To visit our CBCS Facebook page, please click on the Facebook icon below.

 
FacebookTwitterLinkedInWeb Site

P: (04) 970 5435  I  E: admin@cbcs.nz  I  W: cbcs.nz

Our mailing address is:

CBCS

Gr Fl, 271 Willis Street

Wellington 6011

Unsubscribe