Managing a property can be a challenging job, especially when it involves multiple owners or a community living arrangement. In Melbourne, particularly in suburbs like Hawthorn, where apartment living is rampant, understanding the distinctive roles of a body corporate manager and a property manager can be very much helpful for both property owners and residents.
Though the roles of body corporate manager and property manager might seem similar to a layman, they have distinct roles, responsibilities and areas of expertise. Irrespective of the fact whether you are living in a strata-titled property or a multi-unit housing complex, knowing whom to approach for your specific needs can save you time, effort, money and energy. Here we would explore the important differences in the role of a body corporate manager and a property manager, and will also know how they work together to ensure effective management of real estate properties.
Role of a Body Corporate Manager
A body corporate manager is responsible for overseeing the day-to-day operations of a body corporate or owners’ housing corporation. He is also known as strata manager or building manager. The professional is typically responsible for managing and maintaining common areas in a multi-unit property, whose examples can be shared hallways, lifts, gardens, and parking areas. A body corporate manager serves as a liaison between the individual property owners and the entity that represents the collective interest of all owners in a building or a housing complex.
Handling of an array of administrative tasks related to the operation of the owners’ corporation is part of the body corporate manager’s responsibility. This includes managing financial records, preparing budgets, organising meetings, and preparing minutes for the annual general meeting (AGM).
One of the most crucial roles of a body corporate manager is overseeing the finances of the owners’ corporation. This involves the collection of fees paid by individual property owners for the maintenance of common areas, paying bills, and managing shared utility costs, if any. The body corporate manager is also expected to ensure that the body corporate is financially stable to undertake future maintenance works, repairs, and other expenses from time to time.
Body corporate managers are also entrusted with the responsibility of coordinating and organising the maintenance and repair work for common property areas, which may include fixing lifts, cleaning shared spaces, gardening, or arranging for external contractors to handle more specialised repairs (e.g., plumbing or electrical work).
Ensuring compliance with local regulations and laws is also part of a body corporate manager’s responsibilities. He/she ensures that the building complies with safety standards and relevant legislation, such as the Owners Corporations Act 2006. In the case of disputes, the body corporate manager will work to resolve them in accordance with the rules of the owners’ corporation.
A body corporate manager acts as the key point of contact for all property owners in a strata scheme. He/she facilitates communication between the owners and can help resolve disputes that arise between residents or between residents and the owners’ corporation.
On the other hand, a property manager has the responsibility of managing individual residential or commercial properties on behalf of his/her landlords. In the case of residential real estates, property managers look after the needs of tenants and landlords.
They are often employed by property owners (individuals or companies) to handle the day-to-day operations of a rental property, ensuring that the property is well-maintained and that tenants are satisfied. Property managers are responsible for dealing directly with tenants. They handle inquiries, conduct inspections, manage lease agreements, and ensure that tenants are following the terms of their contracts. Property managers also handle tenant complaints and ensure that any such issues are dealt with promptly.
A property manager is also responsible for collecting rent from tenants, issuing receipts, and is expected to ensure that payments are made on time. In addition to rent collection, property managers may also be involved in preparing and managing budgets for individual properties. They also manage security deposits and ensure compliance with rent control regulations.
Property managers organise maintenance and repairs for individual properties. They coordinate with contractors or in-house teams to make sure that the property is well-maintained and that any issues impacting tenants are being addressed quickly. This may include everything from fixing a leaking tap to ensuring the airconditioning system is working properly.
Property managers ensure that both landlords and tenants comply with the terms and conditions of their rental agreements. They stay up to date with rental laws, including those around eviction, tenant rights, and property maintenance. Property managers may also be involved in legal disputes, such as those relating to unpaid rent or property damage.
A property manager is expected to conduct regular inspections of the property to ensure it is in good condition. This allows him/her to identify potential issues pertaining to the concerned property before they become major problems. Property inspections are also important when it comes to preparing the property for new tenants.
Key Differences Between a Body Corporate Manager and a Property Manager
While both roles involve managing real estate properties, the scope of their responsibilities and the types of properties they deal with are quite different.
Scope of Responsibilities
Body corporate managers focus on the management of common areas and the collective interests of property owners within a strata scheme. Their work revolves around managing the shared spaces and ensuring the smooth running of the community.
Property managers deal with individual properties and manage the relationship between the landlord and tenants. Their role is more focused on ensuring that a rental property remains profitable, well-maintained, and tenant-friendly.
Client Type
A body corporate manager works for the owners’ corporation or body corporate, which represents all the owners in a strata scheme or apartment complex.A property manager works for an individual landlord or property owner; managing a single rental property or multiple rental properties on their behalf.
Maintenance Responsibility
Body corporate managers are responsible for the maintenance of common areas, such as corridors, lifts, and exterior spaces, but do not manage the individual units or apartments.
Property managers, in contrast, handle maintenance of the individual rental units and work with tenants to address any issues within their specific apartments or houses.
Financial Matters
Body corporate managers are responsible for financial matters pertaining to the whole building complex, including collecting strata fees (levies), managing budgets for repairs and maintenance of common property/ies, and overseeing the financial health of the owners’ corporation.
Property managers on the other hand, focus on the finances of individual properties, including rent collection, handling security deposits, and ensuring the financial interests of the property owner are maintained.
Working in Tandem
In several multi-unit properties, the services of both body corporate managers and property managers are required. Ensuring the overall well-being and functionality of shared spaces is also part of the job of the body corporate manager, while the property manager focuses on individual rental units. Both play important roles in maintaining the property’s value and in providing services to its residents.
At Our Body Corp, based in Hawthorn, we specialise in body corporate management services; offering expert solutions tailored to the needs of multi-unit and strata properties. Our team works closely with property managers to ensure that both the common areas and individual housing units are well-maintained, thereby providing a seamless experience for property owners and residents alike.
Understanding the difference between a body corporate manager and a property manager is key to ensuring your property is properly managed, irrespective of whether you are part of a multi-unit complex or managing a rental property. Both roles are essential, but they cater to different needs.
If you live in a strata scheme or own property in Hawthorn, Our Body Corp is here to assist with all your body corporate management needs, thereby facilitating that the communal aspects of your property are well taken care of, and freeing your time and mind to focus on the individual management of your housing units or rentals.
