What is a Body Corporate?
A body corporate comprises all owners who share common property on a piece of land. Owners become members of the body corporate. The body corporate will exist throughout the life of the land being sub-divided with multiple property owners. As owners come and go, members will be added and removed respectively.
Managing the body corporate requires the formation of a representative and nominated committee that is led by an elected chairperson. Each State in Australia has legislative rules as to how the committee is formed, what their purpose is, how their responsibilities are defined and other matters. Essentially, they are charged with the responsibility to manage the day-to-day affairs of the common property.
To fund these operations, owners must pay levies. The rate of these levies is determined by the body corporate committee, in consultation with all members at the Annual General Meeting (AGM), prescribing a monetary rate per unit held in the common property. Depending on the size of an owner’s property, the levy will vary accordingly.
For those who are time poor, committees tend to outsource their body corporate responsibilities to a professional strata manager. The committee will oversee the work performed by the strata manager to ensure that the management fees paid by the body corporate are returning a valuable and beneficial service.
How Does Body Corporate Management Service Work?
Body corporate management is a job that requires experience, time and diligence. Committee members must remain responsible and accountable because they represent the needs and interests of all owners who have properties on the piece of land. Whether they choose to outsource the management function or not, the committee has a strict duty to perform well in their roles.
The committee must maintain the common property, engage service providers, manage essential services, purchase sufficient insurance, raise levies, respond to owner requests, deal with disputes, liaise with local authorities, set expectations and rules, welcome new owners and residents and much more.
Most of the work is administrative and it requires a comprehensive understanding of local laws and regulations. For those who need help, professional strata managers exist to make compliance easy.
Our Comprehensive Body Corporate Management Services Include
At Our Body Corp, we offer three packages:
1. Owner-controlled package:
For those who wish to take complete control over strata property management, insource your body corporate management function with leading online strata management software. Manage your properties effectively with our new cloud-based solution which you can access anywhere and anytime. With leading security features, customisable tools and a quick and easy setup, you will be managing your properties efficiently immediately.
2. Administration support package (most popular):
If you want a bit of support or complete support, we also offer an administration support package or a fully-managed package. Depending on the number of properties you own, the complexities of body corporate management, the time you are willing to spend managing the properties and your experience in managing properties, we can help you with our qualified and experienced support team when you need it.
3. Fully managed package:
To help property owners self-manage their strata corporations online and save money, we have developed user-friendly solutions to help owners achieve their objectives. Worry less about processing body corporate fees, maintaining minutes of meetings and communicating notices to lot owners. With our online tool, it will boost your confidence, help you regain control and provide you with comfort knowing that you are managing your properties correctly.
How Much Does Body Corporate Management Service Cost in Australia?
We charge the following fees for our packages.
- 1. Owner-controlled package: $7 per unit / per month.
- 2. Administration support package (most popular): $9.50 per unit / per month.
- 3. Fully managed package: $21 per unit / per month.
Why Choose Our Body Corporate Services in Australia?
At Our Body Corp, we provide leading strata management solutions that will reduce your management fees by up to 70%. We understand the complexities of managing strata requirements and have developed tools and packages that will help you remain in control of your property. Whether you want full control or wish to delegate responsibilities to a professional strata manager, we have packages available that can be tailored to suit your needs and requirements. Our professional strata managers can help you select the right package and guide you to successfully manage your body corporate.