Owners Corporation Fees ExplainedWednesday August 22nd, 2018
Owners Corporation (formerly Body Corporate) fees pay for a variety of maintenance services that help to uphold the meticulous standards of cleanliness, safety and quality that define all of our projects.
Some of these services include:
Taking a click through all of our projects will demonstrate that our developments include a range of integrated amenities to enhance the quality of life for our residents. To ensure these amenities continue to provide occupants with augmented lifestyle opportunities, it’s necessary to employ services that maintain and manage the great condition of these amenities.
A key benefit of buying apartments off-the-plan is their brand-new status, which also means the need for maintenance will likely be rather minimal for the first few years of occupancy. However, every building requires maintenance over time and Owners Corporation fees enable the repair of internal and externals faults or damages of the apartment complex.
Services that maintain the overall hygiene, cleanliness and polish of our projects are also required to ensure they are kept at an exemplary standard for residents. Owners Corporation fees therefore also contribute to the cleaning services that help to keep our projects, and the homes of our residents, spotless.
Just as insurance is required when owning a home, property owners must also secure building insurance. This means that if the structural or mechanical integrity of the apartment building or any of its fundamental services should become damaged, all occupants are covered for its reparations.
The many common areas of our apartment buildings require lighting and power, as do essential services such as elevators and water supply. Owners Corporation fees contribute to the wide variety of electrical and indispensable services that make our projects a great place to live.
Owners Corporation fees allow for and promote capital growth due to their contribution to the maintenance of a high-quality apartment complex. A building is a living entity that requires upkeep and care, and so these fees are an important aspect of protecting this investment.