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Covenant Management System

Community title is a system for delivering on the vision of the development through the establishment and management of the covenants relating to the land. Previously these covenants existed because of contractual arrangements between the developer and the first purchaser of the land.  Only the developer could enforce the covenants at substantial cost. The covenant management program was a consumer of resources and a source of angst for the development team. Community title allows for the body corporate to become the keeper of the standards for the community in perpetuity at a level agreed upon by the members progressively.

Developer’s Exit Strategy

Community title is a method for the developer to hand over to the owners functions involved in running the community as the development expands with new stages being requested.  The developer need not supply all the staff and all the funding for fulfilling community functions, like maintenance. The developer’s marketing team can pass over to the body corporate community social initiatives, like a newsletter.

 

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