Owners of residential properties with an owners’ corporation can stay in control of their strata management requirements with two alternatives to engaging a strata management company. Instead of contracting with a third-party strata management company, take control over the strata management obligations as a collective and acquire a subscription to leading online cloud-based services that assist you to comply with your owners’ corporation duties at a fraction of the cost.
For years we have seen people who own property in apartment complexes, unit housing and plots of townhouses struggle to regain control over the management of their owners’ corporation. Often, owners want to be responsible for managing strata affairs but lack the resources to do it on their own. At Our Body Corp, we have responded to this need with affordable, user-friendly and customisable packages that give owners the ability to engage in strata management at their convenience without the need to hire a professional.
As an owner or member of a committee, we offer three service packages to suit your needs. For those who want to engage a strata management company to assist with their obligations and requirements, we offer the traditional Fully Managed package. However, our most popular package is the Administration Support Package because owners receive complete administration support while retaining control over maintenance of the properties or building. For complete control, our Owner Controlled package offers access to our online platform with complete functionality.
Make a switch?
If you or the committee are currently in a contractual relationship with a third party strata management company, you may wish to consider whether you can save the owners’ corporation time, effort and money by switching to an Administration Support Package or a Fully Managed Package. If you are thinking about making the switch, you will need to (among others):
• discuss the termination of your existing strata management engagement;
• setup a trust bank account with two electronic signatories;
• vote a new committee and appoint the strata/executive committee;
• load documents related to the property into our software library (e.g. plans, by-laws, OC committee rules, etc.);
• create an email to receive supplier invoices;
• check which insurance policies require updating; and
• notify all current suppliers (utility companies, gardeners, maintenance, etc.) of the change and new billing detail.
How much extra work is it?
If you are considering the Administration Support Package, we don’t believe there will be much extra work for you. We ensure that we streamline all processes and take advantage of technology to simplify communication, reporting and authorisation. For example, we integrate electronic signatories to authorise supplier payments within the online banking framework, and your secretary can record minutes at General Meetings with our easy-to-use templates to help capture meeting discussions and resolutions on the go at the time of the meeting resulting in very little subsequent follow up or work.
If you are considering the Owner Controlled package, we have forecasted that (on average) there will only be administrative work to complete on 4 occasions during the year. Raising levies will take about 5 minutes to compete at 4 times per year, and invoice processing will take about 10 minutes per invoice. See the example table below for a 5 dwelling strata complex (i.e. 5 townhouses, 5 units or 5 apartments).
What happens if we find this is all too much?
Changing strata management options is simple. Make sure your contract is drafted with flexibility to allow you to make changes without being locked in. At Our Body Corp, you can easily change packages or move the management of the owners’ corporation back to us by a vote at a Special General Meeting. Our Administration Support Package and Fully Managed package offer differing levels of service depending on your requirements.
How responsive if the Our Body Corp platform?
Our servers are hosted and supported by Rackspace (the #1 managed cloud company) and backed by their leading service level agreement with 99.9% or greater availability. We also ensure that there are regular backups to protect your data from loss. It will require a very unusual set of circumstances for our servers to go offline and become unresponsive. Should this occur, all our templates can be saved offline and integrated third party platforms (i.e. banking) should still be operational depending on their circumstances. However, we make the effort to ensure availability of our service is prioritised.
How secure is the Our Body Corp platform?
For further information about our strata management service packages, please contact 1300 848 343.