Property problems: Owners must see body corporate rules enforced
Sunday 30 May 2004
By The LandlordQ. I am an owner of a property that is part of a unit title development. The property is part of a larger commercial property comprising 39 factory units.
At the recent annual general meeting of the body corporate, only four owners attended. I was unable to attend. The body corporate secretary is a professional body corporate secretary and the chairman of the AGM was an employee of the secretary. At the AGM, two resolutions were passed:
1. Where any proprietor is not present at an AGM or extraordinary general meeting, then the body corporate secretary will act as proxy for those proprietors not present at the meeting; and
2. There will no longer be a body corporate committee and instead there will simply be an "informal" maintenance committee.
I am concerned about the two resolutions passed. Was the body corporate committee entitled to pass such resolutions? Are the two resolutions binding?
A. You have a right to be concerned. We believe the resolutions may be unlawful, and may be designed more to entrench the professional body corporate secretary than to serve the body corporate.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.