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Cost-Effective & Solution-Oriented Body Corporate Services

BBCL Body Corporates Ltd is a New Zealand-owned private company operating nationwide. Our role is to provide peace of mind for both owners and investors through the delivery of cost-effective, independent and transparent Body Corporate secretarial services.

As members of a Body Corporate, owners have rights and responsibilities, both for their own unit and for common areas within the complex.The Body Corporate has responsibility for the common area, the structure, and ensuring compliance with the Body Corporate rules and Unit Titles Act. Boutique’s role is to oversee the management of the Body Corporate in a professional manner and to retain and enhance value in the complex for owners.

BBCL provides a full range of Body Corporate secretarial services, the most important of which is prompt and regular communication with owners. This includes calling, running and recording general and committee meetings, maintaining a register of proprietors, full accounting and budgeting, funds management and tax support, arranging insurance valuations and insurance cover and co-ordination of tradespersons. Compliance with legislation matters of the new Act and the Building Act is also a key part of the secretarial role.

BBCL provides personalised support to developers in preparing tailored rules and budgets for marketing purposes, and establishing systems for the long-term administration of a complex.

As Christchurch has illustrated there are number of items not covered by EQC.  These include such things as fencing, swimming pools, reservoirs, driveways, paths and tennis courts, to name a few.  It is therefore important that the Body Corporate’s valuer takes these items in to account whilst providing the valuation and refers to these items in the valuation.  

Historically some of these items have been included however not separately noted and this becomes a problem if values need to be assessed in due course.

Attached is a copy of part of an EQC handout, dealing specifically with the items that are “not covered”.

Message

It is important that full insurance including all non-EQC items are included in cover.

 

 The Ministry of Justice, following an application by Glaister Ennor (Solicitors) has granted an exemption for professional Body Corporate Secretaries from the new Money Laundering Legislation. 

 

The exemption is conditional upon the Body Corporates under management being compliant with the Unit Titles Act 2010 and its accompanying regulations.  Boutique prides itself on its advice to clients in relation to governance issues and accordingly does not anticipate any risk associated with the maintaining of an exemption on an ongoing basis.

 

Owners should be aware that a duty does exist for notification to the police of any large cash transactions.

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Christchurch’s unique situation has brought a number of challenges to our Christchurch Body Corporates.  The impact of Mother Nature has been both random and at times unjust.  Equally the insurance industry and its associated broking fraternity have responded in a variety of different fashions.  The catastrophic events suffered in Christchurch illustrate so clearly that the laissez faire attitude to insurance that many encompassed was shared not only by owners but also by many in the related industries.

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Christchurch’s unique situation has brought a number of challenges to our Christchurch Body Corporates. The impact of Mother Nature has been both random and at times unjust. Equally the insurance industry and its associated broking fraternity have responded in a variety of different fashions. The catastrophic events suffered in Christchurch illustrate so clearly that the laissez faire attitude to insurance that many encompassed was shared not only by owners but also by many in the related industries.

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Christchurch’s unique situation has brought a number of challenges to our Christchurch Body Corporates. The impact of Mother Nature has been both random and at times unjust. Equally the insurance industry and its associated broking fraternity have responded in a variety of different fashions. The catastrophic events suffered in Christchurch illustrate so clearly that the laissez faire attitude to insurance that many encompassed was shared not only by owners but also by many in the related industries.

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 It is believed the 20 residential units known as Harbour Lights (99 Mokoia Road Birkenhead) is the first multi-unit complex to be the recipient of a financial assistance package under the Government’s much touted Weathertight Homes Assistance Scheme.

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This confusion provides a strong incentive for a body corporate to agree to implement the provisions of the new Act, by adopting the adoption measures set out in S220.  If this does not occur, and in the interim period the wrong administrative procedures are adopted...

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his confusion provides a strong incentive for a body corporate to agree to implement the provisions of the new Act, by adopting the adoption measures set out in S220.

Read More »