By Kay Keam - 14 Sep 2012
The transitional period for body corporate rules expires on 1
October this year. If you are in a body corporate which existed as
at 20 June 2011 then your existing rules will automatically be
replaced with the minimalistic default rules under the Regulations
unless you and your other owners pass new rules and give notice to
LINZ (our land registry).
The default rules are inadequate and it is important to review
your rules to ensure that your complex continues to operate in a
manner beneficial to all owners. This is also an opportunity
to cure any nagging problems by, for example, giving the body
corporate manager the right to tow cars parked in the spaces of
other owners or on the common property.
There are also additional obligations under the new Unit Titles
Act that need to be complied with. These include appointing a
chairperson and forming a long term maintenance plan.
We are happy to meet with you to review your rules and to assist
you to comply with your obligations under the new Unit Titles
Act.
Contact:
Elise
Markwick