About Us

CPA offers clients the specialist service they deserve. We work closely with local New Zealand body corporate committees and owners ensuring lines of communication are kept open at all times, while providing sound and practical advice. This includes the constant review and tendering of contracts and budgets to ensure costs are controlled and minimised.

Debt collection
CPA has tested, streamlined procedures for raising levies and debt collection, including the collection of interest and associated costs for the Body Corporate. The procedures ensure that any costs in the debt collection process are met by the proprietor in default, and are not a burden on the rest of the owners who have met their obligations on time.

Your funds
Body Corporate accounts are maintained on a daily basis, so real-time reporting is available to committees and owners. Accounts are reviewed quarterly to ensure budgets are being met and cost savings are being made wherever possible.

Contractors
A full suite of contractors is available to Body Corporate clients on a 24/7 basis. CPA has been able to negotiate substantial discounts with a number of contractors. Any discounts are passed on in full to the Body Corporate.

Accounting system
Accounts are presented to owners prior to any general meeting. These include a balance sheet, income vs expenditure, aged proprietors, aged creditors and a detailed expense activity report.

Insurance
Full insurance to comply with the Unit Titles Act is arranged and facilitated for all Body Corporates through a competitive process. Insurance valuations when required are obtained from independent valuers.

Costs
CPA fees include an annual general meeting, and all committee meetings.  We aspire to deliver beyond client expectations and the flat administration fee for our comprehensive services ensures there are no surprises at the end of the financial year.

Special services
Every complex is different, and where services over and above the standard services are requested by the Body Corporate, we have the knowledge and expertise to support and advise owners.

Contact Rachel Valentine, for more information.

 

Definitions of common terms

Body Corporate Definitions of Common Terms provide Peace of Mind for both current and potential investors.

Unit
A unit is what each owner owns. It will normally be a physical structure (such as an apartment or carpark), but can be simply an area of surveyed space within which improvements may or may not exist.

Levy
A levy is the share which each owner pays towards the Body Corporate’s annual budget. The timing of payment of levies and the amount of levies are fixed by the Body Corporate, generally at its annual general meeting (AGM).

Unit entitlement
The Act provides that the share of the Body Corporate expenses each owner pays is calculated by unit entitlement. This is the comparative value of each unit in comparison to all other units in the complex, and is initially assessed by a valuer at the time the unit title plan is deposited. The new Act brings a potential new method of calculations being "Utility Interest"(see below).

Unit plan
The depositing of the unit plan with Land Information NZ is what forms the Body Corporate. The plan defines the units, accessory units (such as carparks and storage units) and the common areas. It may also define future development units.

Budget
Every year at the AGM, proprietors approve the expense budget for the coming year. It is the expense budget which forms the basis for assessing the amount of each owner's levy for the year. CPA prepares preliminary budgets for your Body Corporate or committee, however approval of the final budget is a decision made by the owners at the AGM.

Utility interest
The new Act recognises unit entitlement is not always an appropriate measure of cost allocation. Provisions exist for costs to be allocated by utility interest, which is the relevant benefit the expense item delivers to individual owners (eg. ground floor owners may not be required to contribute to lift costs).

Utilities
It is not uncommon for large complexes to have one water or power meter. Check meters to measure consumption per unit may also exist. The Body Corporate can allocate costs to units based on check meter readings.

Insurance
The Body Corporate is responsible for placing full replacement insurance cover for the buildings and improvements. Additional covers which are generally obtained include public liability, landlord’s fittings and fixtures, loss of rents from an insurable event, alternative accommodation for owner occupiers, statutory liability, office bearer’s cover and construction cover for internal works or refurbishment.

Annual general meeting
Each year the Body Corporate must hold an annual general meeting, which meeting determines the financial position and direction of the Body Corporate. Issues arising between annual general meetings may be discussed and resolved at extraordinary general meetings. The committee will determine the timing of AGMs and EGMs.

Committees
Each Body Corporate must have a committee which is responsible for running the Body Corporate between general meetings. How owners are elected to the committee is provided for in the Body Corporate rules.