What are body corporate fees and what do they cover?

Short answer: Fees for apartment/townhouse common areas, insurance, maintenance. $2,000-$8,000/year. Check what is included.

What this actually means in plain English

If you buy an apartment or townhouse with unit title, you pay body corporate fees. They cover building insurance, maintenance of common areas, and sometimes utilities. They range from $2,000 to $8,000 per year. Check what is included. Sometimes they cover water and garbage. Sometimes not. Special levies for big repairs can be extra.

Key Facts

Covers building insurance and common area maintenance
May include water, garbage, or other utilities
Annual fees: $2,000-$8,000 typical
Special levies for major repairs extra
Must read body corporate financials
Fees can increase annually

Example

Annual Fees: $3,500

Includes: Insurance, lift maintenance, gardening

Excludes: Water, power, internet

Special Levy: $2,000 for elevator replacement

Related

Back to Stackhold