It appears there are still quite a few owners of duplexes in Queensland who are unaware of the fact that it is not a requirement anymore to appoint a Body Corporate Manager for the management of their properties or to go through formal Body Corporate meetings and the voting process described in the Act.
Legislation was introduced that allows for owners to enter into a “Lot Owners Agreement” to allow for the management of their properties themselves. (The Body Corporate and Community Management (Specified Two-Lot Scheme Module) Regulation 2011).
There are about 13000 Queenslanders who own lots in Residential Two-Lot Schemes commonly known as duplexes who may benefit in entering into a Lot Owners Agreement. By entering into a Lot Owners Agreement the parties will have the freedom to manage their properties in the way that suits them best.
The Two-Lot Module will apply:-
1. If there are only two residential lots in the Scheme; and
2. The Community Management Statement identifies that the Two-Lot Module applies. (In this regard it may be necessary to make an amendment to the Community Management Statement to reflect that the Two-Lot Module applies).
Lot Owners Agreements must be in writing, dated and signed by the respective lot owners and contain matters agreed upon between the owners. Typical matters that must be agreed upon in the Agreement are insurance, maintaining and improvement of common property and the payment of premiums to pay for the insurance and maintenance.
Any lot owner is entitled to request the other lot owner in a duplex to enter into a Lot Owners Agreement. This request must be in writing and stating details of the proposed Lot Owners Agreement.
Should you require any further information in relation to a Lot Owners Agreement or the process to enter into such an Agreement please do not hesitate to contact our Property and Commercial department on 07 5536 9777 or email email@example.com.