NZ Body Corporate Cost Calculator
This calculator works out the true annual cost of owning a unit title property once body corporate levies are included, plus a quick health check on whether the building's capital fund is keeping pace with future maintenance. You enter your operating levy, capital fund contribution and any special levy charged this year, whether the body corporate is GST-registered, whether the property is your main home or a rental, your marginal tax rate, the current capital fund balance, the number of units in the building and its age. The calculator returns your total annual levy cost broken down into weekly and monthly figures, a full cost breakdown showing operating, capital fund and special levy components, the GST content if the body corporate is registered, and, for rental properties, the after-tax cost once the tax deduction value at your marginal rate is applied. It then checks your capital fund balance per unit against an indicative target for a building of that age, flagging it as healthy, borderline or underfunded, so you can spot a body corporate that may be heading towards a large special levy. Use it before buying a unit title property to see the real ongoing cost of ownership and whether the long-term maintenance plan looks adequately funded, and always check the body corporate minutes and LTMP as well. Figures are indicative only and depend on your building's specific circumstances.
Annual levies
Your situation
Capital fund health check
What the body corporate covers
The body corporate is responsible for the common property: exterior walls and roof, structural elements, shared driveways and hallways, lifts, shared plumbing and electrical infrastructure, gardens, fences, shared parking, and insurance of the whole building. You are responsible for everything inside your unit's walls.
Capital fund trap
Many older body corporates (especially pre-2010) were undercapitalised because the Unit Titles Act 1972 didn't require long-term maintenance planning. The 2010 Act requires a 10-year LTMP and adequate capital fund, but transitional arrangements meant many bodies corporate are still catching up. Warning signs before you buy:
- Capital fund balance under $10,000 per unit for a 15+ year old building.
- No LTMP, or an LTMP that hasn't been updated in 5+ years.
- Minutes showing deferred maintenance or "we'll deal with that next year" language.
- History of multiple special levies in the last decade.
Pre-purchase checks
Before buying a unit title, request: the body corporate minutes for the last 3 years, the LTMP, capital fund balance and projections, any current disputes, insurance details, and the body corporate rules. These are usually available via a pre-contract disclosure statement. A good property lawyer will review all of this as part of the purchase.