Multiple utility interests

Developers of unit title developments assign a utility interest to every principal and accessory unit. Utility interests are used to calculate the share of body corporate levies paid by each unit. The utility interest can be the same as the ownership interest, or it can be calculated separately.

The developer can now assign a single utility interest or assign multiple utility interests that relate to a particular service or amenity. Some interests will be able to be assigned to some units only, for example, an amenity that is only used by particular units, such as a private courtyard.

The body corporate can also decide to reassess the utility interest by special resolution. The reassessment can assign a single or multiple utility interests.

What is a utility interest?

Charging for metered services

A body corporate can now install a meter and charge a unit owner for an amenity or service that is provided to a principal unit or to an accessory unit. A principal unit may be an apartment, unit or shop. An accessory unit may be a carpark, garage or storage space. For example, a body corporate can install an accessory unit to charge to a unit owner for supplying electricity to charge electric vehicles.