Body Corporate Levies

Body corporate levies are the ongoing fees paid by owners of unit title properties (apartments, townhouses, and other multi-unit developments) to the body corporate. These levies fund the maintenance and management of common property — shared areas like lobbies, driveways, lifts, pools, gardens, roofs, and structural elements.

Levies are typically set annually at the body corporate's annual general meeting and may be paid monthly, quarterly, or annually. They generally cover day-to-day operating expenses (insurance, cleaning, management fees, utilities for common areas) and contributions to the long-term maintenance fund.

Levy amounts vary enormously depending on the size and type of development. A simple two-unit townhouse development might have levies of $1,000-$2,000 per year, while a large apartment building with a pool, gym, and concierge could charge $8,000-$15,000+ per year. Older buildings or those with deferred maintenance may also face special levies for major repair work.

Body corporate levies are a significant ongoing cost that you must factor into your budget when buying a unit title property. They're in addition to your mortgage, rates, and insurance.

Before buying, review the body corporate's financial statements and long-term maintenance plan. An underfunded body corporate means potential special levies in the future — these can run into tens of thousands of dollars per unit for major works like re-roofing, recladding, or earthquake strengthening. Check the minutes of recent AGMs for any planned increases or major works.

Request the pre-contract disclosure statement from the seller (mandatory under the Unit Titles Act 2010). This includes the current levy amount, financial statements, and the long-term maintenance plan. You can also request an additional disclosure statement for more detailed information. Your lawyer should review all body corporate financials as part of due diligence.