Self-Managing a Body Corporate in Queensland

Can you self-manage in Queensland?

Any scheme can self-manage; appointing a body corporate manager is optional. Two-lot schemes registered under the Specified Two-Lot Schemes Module can dispense with committee elections, meetings and most administrative formalities entirely — both owners simply act jointly. Schemes under the Small Schemes Module (up to six lots) follow a streamlined process compared with the Standard Module.

Required office bearers

Outside the Two-Lot Module, every body corporate must elect a committee comprising a chairperson, secretary and treasurer, plus up to four ordinary members. In a Small Schemes Module body corporate, a single person can hold all three executive positions if there are not enough owners willing to serve.

Meetings and notices

An AGM must be held within three months of the end of each financial year. Notice must be given to every owner at least 21 days before the AGM and include all motions, financial statements and insurance details. Committee meetings can be held without formal notice in the Small Schemes Module, provided decisions are recorded. Two-Lot Module schemes need no AGMs at all.

Levies, budgets and funds

Every body corporate (other than two-lot module) must keep an administrative fund for day-to-day expenses and a sinking fund for long-term capital works. A sinking fund forecast covering at least nine years must be prepared and reviewed. Contributions are set at each AGM and are usually billed quarterly.

Insurance obligations

Building and common area insurance for full replacement value, plus public risk insurance of at least $20 million, is mandatory. Two-lot schemes that are physically separated buildings can resolve unanimously to insure their lots separately. A valuation must be obtained at least every five years.

Records to keep

The body corporate must keep a roll of lot owners, copies of all motions and minutes, financial records, the sinking fund forecast, insurance certificates, and copies of the CMS. Owners are entitled to inspect records on payment of the prescribed fee.

Common pitfalls

• Operating under the wrong regulation module — check the CMS; you cannot rely on the Small Schemes simplifications if your CMS still nominates the Standard Module.
• Not lodging a new CMS when the module is changed — without lodgement the change is not effective.
• Letting the sinking fund forecast lapse beyond its 5-year review.
• Allowing the chairperson to make binding financial commitments without a committee resolution.
• Treating a 2-lot module scheme as still needing a committee when it does not.

Frequently asked questions