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52 | Unit Title information
SHORT GUIDE TO UNIT TITLES – WHAT YOU NEED TO KNOW
Body corporate responsibilities
The body corporate is responsible for fund maintenance and the operating
managing finance and administration expenses of the body corporate
relating to the common areas, and the › setting a budget and managing the
property as a whole. These include: body corporate’s funds
› maintaining and repairing the › making and enforcing body corporate
common property operational rules.
› establishing a long-term maintenance The body corporate must hold AGMs at
plan
least once a year, so that you and the
› taking out insurance that covers the other unit owners can discuss any issues
buildings on the property of concern, and vote on decisions
› levying owners for contributions to affecting the complex.
Body corporate managers
A body corporate can contract Even if the manager is contracted to
professionals to carry out specific perform the tasks of operating the body
management or administrative functions corporate, responsibility remains with
on its behalf. the chairperson or committee.
Companies that provide professional Appointing a body corporate manager
body corporate services can be does not in any way affect your rights as
contracted to: a unit owner.
› arrange maintenance of common
property Tip: MBIE has guidance on what
› organise facilities for meetings specific responsibilities might be
› administer the body corporate’s carried out by contracted
financial activities. professionals at tenancy.govt.nz/uta.
8 MINISTRY OF BUSINESS, INNOVATION & EMPLOYMENT
BFT015 DEC18
