6 Reasons To Appoint A Good Body Corporate Manager
Many owners in body corporate schemes question if it is necessary to get an outsider to look after the complex on their behalf. From an outsider’s view it may seem like the work that an owner’s corporation manager does can be done by anybody else but this could not be further from the truth. Today we will take a look at why it is a good idea to get a professional on the job. Below are the top 6 reasons why it is better to appoint a manager to take care of your strata title.
1. A strata manager ensures compliance with statutory requirements:
There are a lot of legislative requirements that must be met by strata schemes. A good strata manager is aware of any amendments or changes to these statutory requirements which can affect your strata scheme and ensures that you are always in compliance.
2. A strata manager carries out day to day tasks
Every Body Corporate has day to day tasks that need to be carried out. A good strata manager will coordinate any repairs required, attend and provide minutes for all meetings. A strata manager is responsible for paying invoices as well as all the financials for the strata scheme. The manager also issues and collects levies and attends to any correspondence.
3. A strata manager is responsible for the record keeping:
Body corporate records must be kept in line with legislative requirements. A strata manager is responsible for making sure that this is adhered to. The strata manager also ensures that any and all records are always readily available to lot owners and any other interested parties.
4. A strata manager manages the bank accounts:
Finances can be tricky and if left to just anyone can result in unnecessary losses. A good strata manager prepares the financial statements when they are needed. This can be for tax audits, BAS lodgements or for tax returns. The manager takes care of the term deposits and deals with levy recovery.
5. A strata manager handles all insurance issues:
It is important that each Body Corporate has insurance that covers their scheme. A strata manager obtains quotations, helps in picking the right insurance for the title, deals with insurance claims and obtains policy renewal quotations.
6. A strata manager can be objective on all matters:
Sometimes issues can arise in the Body Corporate. With everyone having a stake in the outcome of any dealings that the strata undertakes, it is prudent to have a neutral party that can be objective in such cases.
Do you have any questions regarding residential and commercial strata management? Are you looking to switch strata managers? Not altogether satisfied with the information you’ve been getting from your current strata managers? Don’t hesitate to contact Montano Strata Management’s qualified team today.
