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Ethical Body Corporate Management for Gold Coast owners
What are levies used for?
Levies collected from owners are paid into the Body Corporate's bank account(s) and used to pay for the Body Corporate's operating and capital costs (as approved by the members of the Body Corporate at general meetings or by the committee in between general meetings). Examples of operating costs:
Repairing and maintaining common property and utility services
Costs of engaging a body corporate manager to ensure the Body Corporate is complying with regulatory procedures when making decisions
Registration fees payable to Council (e.g. for backflow prevention devices
Insurance premiums for building reinstatement and public risk policies the Body Corporate is required by law to take out.
Utility supply costs to common property
Costs of complying with routine fire services maintenance regulations for the building
Caretaker's and other contractor's fees
Costs of purchasing and maintaining body corporate assets
Costs of engaging consultants and experts to provide advice
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