Can I inspect the body corporate's financial records?
Answer
Yes. As a lot owner, you have a legal right to inspect the body corporate's records, including financial records.
The process:
1. Make a written request to the body corporate secretary or manager specifying which records you wish to inspect
2. The body corporate must respond within the timeframe set by the relevant module
3. You can attend to inspect records in person, or request copies (a reasonable copying fee may be charged)
Records you can request include:
- Financial statements
- Bank statements
- Invoices and payment records
- Insurance policies
- Contracts
- Meeting minutes
If your request is refused or ignored, you can apply to the Commissioner for Body Corporate and Community Management for an order requiring access.
This article is general information only and not legal advice.
This is general information only and does not constitute legal advice. For complex matters, consult a licensed strata lawyer.