Qld Small Scheme Module vs Two-lot Schemes module

Discussion in 'Property Management' started by ray63, 20th Mar, 2018.

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  1. ray63

    ray63 Member

    Joined:
    16th Mar, 2016
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    NSW
    For two lots, it would appear that having a Community Title as a Two-Lot Schemes regulation module under the Body Corporate and Community Management Act 1997 (BCCM Act) offers greater simplicity for ongoing management than a Small Scheme module - eg no AGM's, lot -owner agreements rather than Committees etc. It should also be 'cheaper' to run (both in time and/or dollars)

    However, what are the disadvantages of choosing the Two-lot Scheme over a Small Scheme?

    One possibility is that if one lot owner fails to respond to a Lot Owners agreement, then the proposed decision fails (s111H BCCM act). At least in the Small Schemes, a failure to respond to a motion is an abstention, and the vote would pass (?). Are there any other things to consider? [I don't know what I don't know!]

    Whilst I own both lots, there is no problem - but should I sell, then maybe the scheme should be changed to Small Scheme prior to sale (or as a condition of the sale). But I wonder was a prospective buyer would think about the change, and the fact that the 'management' of the Two-Lot scheme was not 'rigorous' as it may be under a Small Scheme and managed professionally?
     
    ray63, 20th Mar, 2018
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