Owners in body corporate schemes may question the need for a professional Body Corporate Manager to look after their complex.
‘Why not self manage?’ a few lot owners always asks. While this may sound like a good idea to some, there are many reasons it is a better idea to appoint a good body corporate/strata manager.
Here are our top 8 reasons why it is a great idea to appoint a manager. A good body corporate manager for your scheme will:
- ensure that all statutory/legislative requirements are met. They should be aware of any amendments and changes to legislation that may affect your scheme, therefore ensuring you are in compliance at all times.
- carry out the day-to-day tasks of the Body Corporate including:
- preparing, attending and taking minutes of meetings,
- paying invoices and accounts,
- issuing and collecting levies, and
- attending to any correspondence of the Body Corporate.
- ensure that the body corporate records are kept in line with legislative requirements, and also allow for the records to be readily available to Lot owners and other interested parties when required.
- handle insurance claims and obtain policy renewal quotations on behalf of the Body Corporate.
- manage the Body Corporate’s bank account, and can:
- prepare financial statements and other reports when required,
- prepare financials for audits, tax returns and BAS lodgements,
- manage term deposits and
- deal with levy recovery.
- be a neutral party that can provide an objective approach to dealing with situations like disputes, levy recovery and other issues.
- assist with obtaining quotations for works, and for arranging scheduled maintenance of the scheme.
- be able to offer a fixed fee pricing structure so you know exactly what you are paying each year.
For a small investment per Lot per year, your Body Corporate has peace of mind. By engaging a good body corporate management company, lot owners can be comfortable knowing that their investment is in safe hands.
If you have any queries regarding the benefits of appointing a body corporate manager or for information about our fixed fee pricing structure, please do not hesitate to contact me via email or feel free to call on 07 5609 4924 for a friendly discussion.