What you need to know about body corporates

Investing in properties that are part of a body corporate can be an easier first step onto the property investment ladder than buying a stand-alone investment property.

However, it means you will not be making decisions on your own as you are buying into a group of co-owners.

All too often body corporate matters become mired in legal proceedings. If you want to avoid going down that path, there are a few critical things to look out for when investing in a body corporate arrangement.

When you purchase a unit in a body corporate you are buying into a community of owners.