My body corporate has four members, -two are standalone and two share a common wall.Its layout is a bit like a C with a fullstop.My property is situated between the two who share a common wall but I am standalone.Out front is the street and we all have our own driveways etc
Our properties are zoned commercial and our services are independent of each other.
Two of us would like to exit the body corp as we see that it offers no financial advantage and in fact it costs more to be a part of it and the costs seem to spiral.the insurance premuims went up over 150% last year due to the insurance brokers citing the costs of one of our neighbours having a fire.
Naturallly our BC administrator seems to accept that and one wonders about why anyone would accept that rise-do BC Adminstrators get commisions for taking business to certain insurers.
What is the process for exiting the BC -subdivision seems to be one options but are there any others.
Our properties are zoned commercial and our services are independent of each other.
Two of us would like to exit the body corp as we see that it offers no financial advantage and in fact it costs more to be a part of it and the costs seem to spiral.the insurance premuims went up over 150% last year due to the insurance brokers citing the costs of one of our neighbours having a fire.
Naturallly our BC administrator seems to accept that and one wonders about why anyone would accept that rise-do BC Adminstrators get commisions for taking business to certain insurers.
What is the process for exiting the BC -subdivision seems to be one options but are there any others.
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