If you own a lot within a community titles schemes, you are required to pay your share of Body Corporate levies. Body corporates budget for expenses related to the property each year and then levy each lot owner for the money they require to pay those expenses.
Body corporates hold and annual general meeting where the amount of levies to be charged over the coming year are determined and lot owners are formally notified.
Some lot owners are not fully aware of what body corporate levies cover. The body corporate can levy for fees for the Administrative Fund, the Sinking Fund and for a Special Levy.
Administrative Fund
The
The difference between a Quantity Surveyor and a Valuer
quantity surveyor
noun
a person who calculates the amount of materials needed for building work, and how much they will cost.
valuer
noun
a person whose job is to estimate the value of something that is to be purchased.
Reading the above definitions, it can be easy to see why people may get confused and think that quantity surveyors and valuers do the same thing.
Although their definitions read similarly, that is where the similarity ends, as individually they play very different but important roles.
To become a quantity surveyor, a person must complete a tertiary degree. Their studies teach them how to e
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