You have found the perfect apartment or townhouse. The location is great, the price fits your budget and you are ready to make an offer.
But have you checked what you could be paying on top of your mortgage?
When buying a property that belongs to a body corporate in Queensland, the purchase price is only part of the financial picture.
Regular body corporate levies, major repairs and unexpected expenses can all affect what your property costs to own.
And some of the most important information might be sitting in documents you have not read yet.
Here is what every buyer should understand before signing.
What is a body corporate?
When you purchase a property within a body corporate scheme, you become a member of that body corporate.
This commonly applies to apartments, units and townhouses, although some freestanding homes are also part of body corporate schemes.
The body corporate manages shared property and facilities, which may include gardens, driveways, swimming pools, lifts, roofs and other common areas.
As an owner, you contribute towards the expenses associated with maintaining and managing these areas.
And importantly, you cannot simply opt out of those financial responsibilities.
What are body corporate levies?
Body corporate levies are regular payments collected from owners to cover the expenses of running and maintaining the property.
For many Queensland body corporate schemes, these contributions are allocated between two main funds.
The administrative fund generally covers regular expenses such as common property maintenance, management costs and insurance.
The sinking fund helps pay for larger expenses, including major repairs, replacement of building components and other capital works.
The amount you pay depends on the scheme's budget and how contributions are allocated between owners.
This means two apartments with similar purchase prices could have very different ongoing expenses.
Before buying, make sure you understand the actual levies for the property rather than relying on a general estimate.
What happens when the body corporate needs extra money?
This is where buyers can face an unexpected expense.
Imagine purchasing an apartment and discovering that the building needs major roof repairs.
If the body corporate does not have enough money available, it may need to collect additional contributions from owners.
These are commonly called special levies.
Special levies can arise when unexpected expenses or budget shortfalls need to be covered.
Depending on the circumstances, this could involve major building repairs, replacing shared facilities or other substantial expenses.
The amount payable by each owner depends on the scheme's applicable contribution arrangements.
A special levy could make a significant difference to your budget, particularly if you have already committed most of your savings to purchasing the property.
That is why understanding the financial position of the body corporate matters.
What does the Seller Disclosure Statement tell you?
Since 1 August 2025, Queensland's seller disclosure scheme has required sellers in most covered property transactions to provide prescribed information before the buyer signs.
For a property in a community titles scheme, the relevant documents generally include:
A Form 2 Seller Disclosure Statement.
A Body Corporate Certificate.
A Community Management Statement.
The Body Corporate Certificate contains important information about the lot and the scheme, including levies, financial information and other matters.
However, it is important to remember that the information in the certificate is accurate as at the date it was issued.
It is not a guarantee that the body's financial position, future expenses or maintenance requirements will remain unchanged.
Receiving these documents is an important starting point, but it should not automatically be the end of your investigations.
What should buyers check before signing?
1. Current body corporate levies
Find out how much you will need to pay and when those payments are due.
Check whether the contributions are likely to affect your ongoing budget.
2. The body's financial position
Review the available financial statements and budgets.
Consider whether the funds appear sufficient for planned expenses and whether additional contributions may be needed.
3. Meeting minutes
Minutes from body corporate meetings can provide useful insight into decisions, proposed work and issues being discussed.
For example, they may reveal concerns about building maintenance, insurance costs or major projects being considered.
4. Insurance arrangements
Understand what the body corporate insures and what insurance you may need to arrange yourself.
This is particularly important in North Queensland, where severe weather exposure can be a relevant consideration.
5. By laws and maintenance responsibilities
Check the rules that apply to the property and understand which parts of the building or surrounding areas you may be responsible for maintaining.
Do not assume every external area or shared feature is maintained by the body corporate.
Can you access additional body corporate records?
Yes.
In Queensland, buyers of lots in relevant community titles schemes can request access to body corporate records.
A written request and the prescribed fee are generally required.
These records can provide additional information beyond the documents supplied as part of seller disclosure.
Depending on what is available, you may wish to review financial records, meeting minutes, maintenance information and relevant contracts.
If you are unsure what documents to request, speak with your solicitor before signing.
What if you discover a problem after signing?
Finding an unexpected expense or maintenance issue does not automatically give you the right to cancel your contract.
Your options depend on the contract terms, any relevant conditions and the circumstances.
If you have concerns about the body corporate's financial position or the condition of the property, it is much better to raise them before committing to the purchase.
Your solicitor can explain what investigations are appropriate and whether additional contract conditions should be considered.
The takeaway
Buying a unit or townhouse can be a great option, but it comes with responsibilities that are different from owning a standalone home outside a body corporate scheme.
Before signing, make sure you understand the regular levies, the body's financial position, any proposed major expenses and the rules that will apply to you as an owner.
A little more investigation before purchasing can help you make a much more informed decision.
Buying a unit or townhouse in Queensland?
At Jet Legal, we help buyers understand their contracts, seller disclosure documents and the legal considerations that matter before settlement.
If you are considering purchasing a property within a body corporate scheme, send your contract through before signing.
We can help you understand the documents, identify potential concerns and explain the next steps.
Get in touch with Jet Legal before you sign.
This article provides general information only and does not constitute legal, financial, building or insurance advice. Your rights, obligations and potential expenses depend on the individual property, body corporate scheme and contract.