I am the owner of a residential apartment in a medium-sized block of apartments. All owners are facing a large maintenance capital expenditure in the next 3 years that will require an extra-contribution from each unit owner of approximately $5,000. An opportunity has arisen where a portion of the common property has been offered for lease to the builders next door (who are erecting another building) for them to erect a demountable site office. The rent received from this will contribute a significant sum towards the future capital expenditure.
Presumably this proposal will need the majority vote from owners. If this demountable goes ahead, it will seriously encroach on the surrounding space of approximately 4 of the apartments (out of 24), cutting out their natural light, situating a busy site access next to their windows and the demountables themselves with associated air con and other plant are to be built within feet of these four apartments. The other apartments will be unaffected.
As a body corporate committee what kind of recourse might these four affected owners have against the body corporate if they suffer a loss of rent (tenants leaving, unable to find tenants, reductions in rent for existing tenants, unable to sell, sale prices affected).