Before you buy

The owner of a unit title (such as an apartment) must give you information about the unit before you agree to buying it. This includes certain information about the body corporate and the development the unit is in.

Make sure you understand your responsibilities under the Unit Titles Act 2010.

Unit Titles Act and Regulations

Get independent legal advice if you are unsure.

Getting legal advice

What the owner must do

Before you buy the property, the owner of the unit title must give you 2 documents:

• a pre-contract disclosure statement
• a pre-settlement disclosure statement.

1. Pre-contract disclosure statement (PCDS)

The owner of the unit title must give you a pre-contract disclosure statement before you sign the sale and purchase agreement.

Check that the pre-contract disclosure statement includes information about the unit and body corporate's:

• finances
• maintenance
• governance
• remediation, defects and legal proceedings.

Read the full list of the information that must be included in the section on pre-contract disclosure statements.

Unit title pre-contract disclosure statements

Problems with the pre-contract disclosure statement?

You may be able to cancel the sale and purchase agreement or delay settlement if you are not given the pre-contract disclosure statement, or if it is late, incomplete or inaccurate.

2. Pre-settlement disclosure statement (PSDS)

Once the sale and purchase agreement has been signed, the owner of the unit title must give you more information before the settlement date.

This is called a pre-settlement disclosure statement.

The seller must give you the statement at least 5 working days before the settlement date. (Working days exclude the period 25 December to 2 January, weekends and public holidays.)

Check what information is required in the section on pre-settlement disclosure statements.

Unit title pre-settlement disclosure statements

Problems with the pre-settlement disclosure statement?

You may be able to cancel the sale and purchase agreement or delay settlement if you are not given the pre-settlement disclosure statement, or if it is late, incomplete or inaccurate.

Your responsibilities as a new unit title owner

There are also responsibilities you will have as a unit title owner, if you are successful in buying the property.

This can include, for example:

• paying body corporate fees
• following the rules set by your body corporate
• attending body corporate meetings (optional).

Unit owner's responsibilities

Body corporate membership

When you buy a unit title, you automatically become a member of the body corporate. The body corporate meets at least once a year to discuss issues and vote on decisions.

The body corporate looks after the common areas, and the property as a whole.

Body corporate: how it works

Body corporate fees and utility interest

What body corporate fees cover

As a unit owner, you will pay regular body corporate fees. These fees (levies) help cover shared costs, including:

• building insurance
• maintenance and repairs
• cleaning of shared spaces
• rubbish collection.

How your share is calculated

Your share of the body corporate fees is based on your 'utility interest'. This is usually the same as your ownership interest, which reflects the value of your unit compared to the whole complex.

For example, if you own 1 of 10 identical units, your ownership interest is 10%. Your utility interest — and your share of the fees — will also be 10%.

When the utility interest can be different

In some cases, the utility interest can be adjusted. Scenarios include:

• A developer assigns different utility interests for specific services or amenities.
• The body corporate can vote to change how costs are shared. This is called a 'special resolution'.
• Some services can only apply to certain units — such as a private courtyard or a car park — so only those owners pay for them.

Changes to fees over time

Body corporate fees can increase over time. This usually happens when the costs of:

• maintenance and repairs
• services like insurance, cleaning, or rubbish collection increases.

Where to find your fee details

The PCDS includes your body corporate fees for the current financial year, and your utility interest.

Principal units

Units that people own are called principal units. This could be an apartment, a set of offices or a shop. Accessory units are used with a principal unit, including carparks or storage spaces.

The shared parts of the complex are known as ‘common property’, including hallways, stairs or shared gardens.

New to unit titles?

Check our short guide to body corporates and buying and selling unit titles.

Short guide to unit titles (2024) [PDF, 1.7 MB]

Getting legal advice

If you are unsure about what your legal responsibilities are when you buy a unit title, or what the owner's responsibilities are, you can get legal advice.

You can speak to your conveyancing lawyer who is handling the purchase of the property. The Settled website also has information on getting legal advice.

Building your support team when buying — Settled(external link)

Buying or selling a property

You can find more information about buying a property on the Settled website.

Buying a home — Settled(external link)