Owners Corporation - the importance of proxies

If you are a member of an owners’ corporation, it’s important to check that the parties who speak and vote at an annual general meeting, special general meeting or committee meeting are legally entitled to do so.  A lot owner must be “financial” (i.e. their owners corporation fees must have been paid in full) to vote at an owners corporation meeting. This is required by the law governing owners corporations in Victoria, being the Owners Corporation Act 2006 (Vic). If a lot owner cannot attend a meeting (in person or by telephone) then...

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Protection to “Small Businesses” from Unfair Contract Terms

Further to our blog of July 2015 on this topic, from 12 November 2016 a new law will come into operation which is aimed to protect small businesses from unfair terms in standard form contracts.  The law (Treasury Legislation Amendment (Small Business and Unfair Contract Terms) Bill 2015 (Cth)) will effect standard form contracts for the supply of goods or services and the sale or grant of an interest in land, where at least one of parties is a small business (employees less than 20 people) and where the upfront price...

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Buying real estate? Do your research first

When considering the purchase of residential or commercial property, it’s critical you do your market research so you don’t pay too much.  We often suggest to prospective purchasers to subscribe to a property market research service, such as CoreLogic RP Data (www.corelogic.com.au) or Australian Property Monitors (www.apm.com.au) on a month to month basis, for a fee. Knowing the market is important when bidding at an auction or making an offer to purchase in a private sale campaign.  A market research service can provide you with: comparative...

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