Self-Managing a Body Corporate in Tasmania

Can you self-manage in Tasmania?

Self-management is the default for all Tasmanian strata schemes; appointing a manager is optional. Small schemes (two or three lots) usually operate informally with all owners acting jointly. The Act does not prescribe minimum committee size, allowing flexibility for tiny schemes.

Required office bearers

The body corporate must appoint a chairperson, secretary and treasurer at each AGM. In small schemes one person may hold multiple positions. Decisions are usually made by majority vote of lots, with weighted voting available where the schedule of unit entitlements provides for it.

Meetings and notices

An AGM must be held each year. Notice of at least 14 days must be given to every owner, with the agenda and any motions. Special general meetings can be called by the committee or by owners representing at least 25% of unit entitlement.

Levies, budgets and funds

The body corporate must keep an administrative fund for day-to-day expenses. A sinking fund is recommended but not compulsory for small schemes. Levies are set at the AGM and are payable as determined by the body corporate.

Insurance obligations

The body corporate must insure the buildings for full replacement value and hold public liability insurance of at least $5 million. The policy must be in the name of the body corporate, not individual owners.

Records to keep

Records to maintain include the strata roll, minutes, financial records, insurance certificates and a copy of the by-laws. Owners are entitled to inspect records on reasonable notice.

Common pitfalls

• Letting insurance lapse — even small schemes are legally obliged to hold it.
• Failing to update the strata roll after a lot is sold.
• Holding meetings without formal notice and minutes — votes may be unenforceable.
• Not enforcing by-laws consistently, leading to neighbour disputes.
• Pooling owner funds in a personal account instead of a separate body corporate account.

Frequently asked questions