The Disadvantages of Buying Apartments with OPEX

There are several apartments in Auckland that do not charge body corporate fees, and it seems that these properties are giving apartment buyers a good deal.In reality, if you’ve encountered apartments that do not charge you with corporate fees, then it may run under a different system which we call as OPEX. An apartment with OPEX or operating expense is essentially the same thing, but it doesn’t fall under the Unit Titles Act.

The problem with these types of properties is that you’re not under a government body, so there’s no owner’s committee meeting, and most importantly – there’s no AGM minutes. In this podcast, I will show you why it’s not a good idea to buy apartments with OPEX and if you’re dealing with this type of property, then you should do your research first and know its disadvantages.

Keep in mind that OPEXs are almost the same as body corporate fees, the only minor difference is that they are not under any government body. To learn more about OPEX and other aspects surrounding it, I urge you to watch my podcast on this link: apartments with OPEX