Strata 101 Part 1 in a 7 Part Training Series for Queensland Body Corporate Managers2012

© Copyright 2012 Teys Lawyers www.teyslawyers.com.au

About the Presenter Michael Teys is the Founder and Principal Lawyer of TEYS Lawyers. He has a Bachelor of Laws and practices exclusively in the area of strata and community title law. He is a Fellow of the Australian College of Community Association Lawyers. He was formerly an Adjunct Lecturer with Charles Sturt University. He has also been the CEO of a publicly listed company and one of Australia’s largest strata management companies managing over $8B of residential and commercial property. Michael appears weekly on SKY News Business Channel's Property Success with Margaret Lomas and is a regular panellist for the property edition of Your Money, Your Call for the same channel. You can read Michael’s blog at www.michaelteys.com and follow him on Twitter at @MichaelTeys.com

Teys Lawyers practice nationally in strata and community title law representing owners corporations, bodies corporate and apartment owners. The firm’s practice groups include building defects, strata community disputes, strata title property law, by-law / rules and levy / fee collection.

TEYS Lawyers provide an entirely cloud based working platform for their team. The firm provides flexible working arrangements and has remote working locations in Queensland and Victoria.


Strata 101

A 7 Part Training Series for New Queensland Body Corporate Managers, 18 June 2012


Defining Features of a Strata Scheme

The inalienable right to common property

Binding condiLons, covenants & restricLons

Taxes that run with the Ltle to lots


The Body Corporate/OC is the New Fourth Level of Government

Federal government Housing policy and affordability

State government

Local government Building approvals and standards

Housing land release and zoning

Body corporate / OC By-‐laws about common property


Our Strata & Community Titled Country

382,991 (40,064)

728,780 (75,690)

419,289 (71,286)

38,375 (3,257)

15,120 (7,469)

99,344 (18,774)

241,126 (58,082)

19,100 (2,379)

Strata Lots (Aust) 1,944,125 Strata Schemes (Aust) 277,001

Source: City Futures Research Centre, UNSW 2012


Your Place in the Strataverse

Strata Owners Media Bodies Corporate

Government

Academics

Service Contractors

Industry Bodies

Chairperson Secretary / Treasurer Commidee Member Members

Auditors Expert Report Providers Insurance Brokers

Consultants

Strata Managers Resident Managers

Built Environment

Tourism Strata Company

Local State

Bloggers Websites

Press Tweeters

Strata Community Lawyers

Unit Owners

Strata Managers

Resident Managers Strata Inspectors

Property Industry

Policy Advisors

Town Planning

Tribunal /Courts

Policy Advisors

Licencing AuthoriLes

Commonwealth

Tax Privacy Human Rights

Lawyers Owners Lawyers Resident Manager Lawyers

Financial Services

Banks Insurers

Developers Builders

Consultants


Strata Governance v Strata Management

Governance decision making process of owners

Management implementaLon of owners decisions by managers


Hierarchy of Power a Body Corporate

BC • Retains control over all decision making • Except for Victoria

C’tee • Makes decisions requiring an ordinary resoluLon • Cannot overturn BC decisions

Delg. • BC may delegate power to a manager or unit owner • Delegate cannot overturn BC or C’tee decisions


Next Week

•  Strata development and Ltling

1.  The development cycle

2.  Strata manager’s consulLng role

for new developments

3.  Different forms of Ltling

Education

Strata 101 Part 1 in a 7 Part Training Series for Queensland Body Corporate Managers2012