Important body protecting asset
ALL VOTING COMMITTEE MEMBERS MUST UNDERSTAND AND ABIDE BY THE CODE OF CONDUCT CONTAINED WITHIN THE BODY CORPORATE AND COMMUNITY MANAGEMENT ACT.
RHIANNON SAUNDERS BODY corporate committee members must make careful, informed decisions to ensure they act in the best interests of all owners.
Being a body corporate committee member comes with great responsibility.
Committee members make decisions which have the potential to significantly affect other lot owners.
To ensure they are acting in the best interests of all owners, they should understand the provisions of the Body Corporate and Community Management Act as well as the regulation that applies to their body corporate scheme.
The legislation contains the rules about what sorts of decisions can be made by committee members and which decisions must be made by all owners in the body corporate at a general meeting. For example, the committee cannot make decisions about restricted issues which include matters such as changing the rights, privileges or obligations of lot owners or setting and changing a body corporate levy. If the committee unlawfully makes decisions on restricted issues, the parties affected could commence proceedings in court or with the Office of the Commissioner for Body Corporate and Community Management.
These proceedings could be costly, both financially and emotionally, to owners and have the potential to affect the value of their investment.
All voting committee members must understand and abide by the Code of Conduct contained within the Act.
It is also important to get to know the other committee members and what their roles are to ensure a cordial relationship.
While the responsibilities and work of a committee member may seem onerous at times, the role should be enjoyable, if you like learning and working with other people to maintain and protect your investment, which is possibly your biggest asset. Rhiannon Saunders is a director at WGC Lawyers.