Our team at SSKB has compiled the following answers for the most frequently asked questions. We have listed the most frequently asked questions by unit owners, to which we have added explanations and references to the requirements under the Body Corporate and Community Management Act 1997 (Qld).
Change of Address
I need to change my address. What do you require?
The legislation requires that all address changes must be notified in writing. This is the responsibility of the owner and can be submitted by: Email to: email@example.com Facsimile: 07 5504 2001 Post: PO Box 8319, GCMC QLD 9726 Online – Click on one of the following links:
The following information is required:
- Community Name
- CTS Number
- Full name(s) of owner(s)
- Lot Number
- New mailing address for correspondence, notices minutes
- New mailing address for contribution notices if different to the above
- Telephone Number
- Fax (if applicable)
- Email Address
Written communication assists in ensuring that correct details are recorded.
Change of Ownership
What is a Form 8 and can you chase it up with my solicitor? He never mentioned anything to me
A Form 8 is an information form to amend the Body Corporate Roll. The form is obtained from your solicitor at the time of settlement. This form is required to amend the body corporate records to reflect your ownership and is to be completed by the purchaser/s with the relevant details regarding date of transfer of ownership, the name/s or entity that the lot is held in and the address for service of notice (where your contributions and correspondence is to be sent).. The legislation requires that the purchaser is to provide this information in writing to the body corporate. Your solicitor should be able to assist in this matter.
You have not changed my address?
In the case of a transfer of ownership, it is the lot owner’s responsibility to ensure their correct address and details are registered with their body corporate. This is usually provided by the new lot owner’s solicitor. Where changes occur to a lot owner’s details, it still remains the lot owner’s responsibility to keep their ownership records up to date with the changes advised promptly to their body corporate. Information relating to a change in an owner’s details supplied to a Council, Letting Agent or other entity does not automatically pass to the body corporate.
Contributions in Arrears
What happens if my account is in arrears?
What is an Arrears Notice?
An arrears notice is forwarded when your body corporate has not received payment for your community (body corporate) fees (usually) from the previous period/s by the due date. This arrears notice is sent out under authorisation of your committee. Dates for payment of contributions are set out in the minutes of your annual general meeting forwarded to you each year.
What is the difference between the administration fund, sinking fund and insurance contributions?
Sinking Fund – contribution entitlements This is a separate fund to the Administrative Fund. The amount owners contribute is based on a sinking fund forecast. A Sinking Fund Forecast is usually prepared by a quantity surveyor. It is a 10 year forecast of major expenditure, which covers such items as painting the common property (including the exterior of the building), major repairs and refurbishment to lift cars, and other common property items. These items are considered as capital, or non-recurring major expenditure, and therefore need to be contributed to by all owners over a period of time. The purpose of this fund is that, for example, if you owned your lot for 5 years and the re-painting of the exterior of the building is due in year 10, your lot has contributed for 5 years towards the painting of the building. Your individual contribution to the Administrative Fund and Sinking fund is based on your lot’s contribution entitlement and is used to calculate administrative and sinking fund contributions as well as the lot’s share of utility charges not able to be measured.
Insurance Contribution – interest entitlements The “Insurance Reimbursement “is a separate payment for paying the Building replacement and reinstatement insurance premium. Although, in most instances the Insurance premium will be included in the Administrative Fund Budget, some bodies corporate are required to have it as a separate amount when the lots in the scheme have varying interest entitlements. If applicable to your body corporate, your individual contribution to the Insurance Reimbursement is based on your lot’s interest entitlement. Interest entitlements are also used to calculate the unimproved value of the lot and for the purpose of calculating local government rates and charges. Bodies corporate are usually titled in one of two ways, as a Building Format Plan or as a Standard Format Plan. As a Building Format Plan, the body corporate is responsible for the insurance of the building and the common property. As a Standard Format Plan, the body corporate is responsible for insuring common property only. In this instance, individual residences are the responsibility of the owners. In a Standard Format Plan, common property would include any gates, light poles and infrastructure which could be damaged or need replacing under an insurance claim. The cost towards the Public Liability and Office Bearer’s Liability portion of the premium is always included in the Administrative Fund.
What is this contribution notice for?
How do I read my contribution notice?
Administrative Fund: For day to day running of your building
Sinking Fund: for non-recurring items or capital expense
Insurance: where lots have varying interest entitlements, this amount is for the replacement cost of the building
|Period||The dates from and to, for which the contribution applies.|
|Due Date||Date contribution payment is due.|
|Amount||Gross amount for the period for your lot.|
|Discount||Discount amount applying if applicable to your body corporate.|
|Received By||The date the body corporate should receive the funds into their bank account for you to receive any applicable discount.|
|Net Amount||The amount after discount, if applicable.|
|Amount Payable||This is the net amount of the contributions due and may include any bought forward amounts if applicable.|
How are our contributions calculated?
What do our body corporate fees cover (where do our payments go)?
- – Electricity
- – Building Manager (if applicable)
- – Administration (SSKB typically 5% or less)
- – Insurance, including public liability
- – Gardens and pool (if applicable)
- – General maintenance and repairs
- – Fire equipment
- – Security
- – Lift (if applicable)
- – Sinking Fund for items of a capital nature
Where does my money go?
Why are our contributions increased in period 3 and 4?
Why does SSKB collect our money?
Why have my body corporate fees increased?
Why have SSKB increased the body corporate fees?
Why have I been charged legal fees/interest etc?
I did not receive my notice to pay my contributions
Can you email all contribution notices to me in the future?
Can you send me more than one copy of my contribution notice, as I want to pass on to (whomever) to pay in my absence?
How do we get it approved and connected?
Who pays for the cabling to the building?
National Broadband Network
How do we get it connected?
Improvements to a Lot
I want to install an air conditioner or a pergola - I am making renovations – do I need approval?
Application for a Pet
I want to apply to keep a pet?
Certificate of Currency
How do I obtain a Certificate of Currency?
The insurance cover for the building is advised in the Insurance Report attached to the annual general meeting notice forwarded to each owner each year. A certificate of currency is a document required for an owner’s individual financial purposes which states the insurance which is current on the day. The requirement of this document is not a shared expense for all owners. . A request in writing accompanied by payment of the nominated fee should be made. This can be ordered and paid for online at www.sskb.com.au/certificate-of-currency. (Present cost $30.00 incl of GST).