Navigating the world of strata management can be overwhelming, especially when confronted with industry-specific jargon. To help you participate confidently in strata matters, we’ve put together a guide to understanding strata terminology – QLD edition.
Queensland Strata Terminology Explained
Body Corporate – A body corporate is formed upon the subdivision of a property into multiple lots. The body corporate manages and maintains the common property, enforces by-laws, and sets levy contributions to cover shared property expenses.
Body Corporate Manager – They provides expert administrative and financial services, ensuring the smooth operation of the strata scheme. At TCM Strata, our managers leverage 35 years of expertise to deliver tailored solutions that foster thriving communities.
Body Corporate Property – This is a parcel of land with a building (or buildings), and at least two lots. Furthermore, it may have common areas such as driveways, pathways, fences, external walls and roof.
Building Format Plan (BFP) – A Building Format Plan (BFP) is a subdivision of multi-storey complexes (vertical developments). As an example, an apartment building with a shared roof will fall under a BFP.
Community Titles Scheme (CTS) – A CTS applies when property owners share common spaces such as gardens, pools, or hallways. Under this arrangement, owners operate within a structured governance system to manage and maintain these shared areas.”
Community Management Statement (CMS) – This document outlines the specific by-laws, financial contributions, and rules for a community titles scheme.
Contribution Schedule – A contribution schedule determines each owner’s financial obligations toward the maintenance and operational costs of the property. Moreover, the contribution schedule also dictates each owner’s voting entitlements within the body corporate structure.
Contravention Notice –A contravention notice is a document that details an owner or resident’s breach of by-laws and requests the person responsible to fix the issue.
Committee Code of Conduct – A committee code of conduct is a set of rules for committee members, which outline how to act in the best interests of the body corporate. As an example. committee members must act honestly and fairly, disclose conflicts of interests and comply with legislation.
Interest Schedule – An interest schedule is a type of lot entitlement schedule, used to calculate each owners’ proportionate share of insurance.
Office of the Commissioner for Body Corporate and Community Management – The governing body in Queensland for people living, investing or working in a community title scheme. It provides information and dispute resolution services. To learn more, Visit their website.
Occupiers Statement – An Occupiers Statement is a summary of testing and maintenance performed on a buildings fire systems.
Ordinary Resolution – Generally, an ordinary resolution is achieved when more votes are cast in favour of a motion than against. This is the most common resolution, used for routine decisions within a strata scheme.
Majority Resolution – In contrast, a majority resolution is achieved when more than 50% of all eligible owners vote the same way. Unlike ordinary resolutions, each lot is entitled to only one vote, and proxy voting is not permitted.
Standard Format Plan (SFP) – A Standard Format Plan (SFP) defines the boundaries of horizontal developments, such as townhouse complexes and gated communities with both buildings and yards. Specifically, it uses measurements like distances, bearings, and the physical structure of the building to determine each lot’s boundaries. As a result, owners can clearly understand the extent of their private property and shared areas.
Committee Code of Conduct – A committee code of conduct governs how strata committee members should act, ensuring fairness, transparency, and adherence to legislation.
We hope this guide has given you a better understanding of strata terminology used in Queensland.
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