Being part of an Owners Corporation (O.C.) brings with it a number of Legal, Administrative and Practical requirements – All of which we would undertake on your behalf.
As a member of an O.C. you are Legally required to:
- appoint and O.C. Manager.
- Be registered with the Titles Office.
- Display a plaque on the premises identifying your O.C. Manager.
- Prepare and sign the O.C. Certificates necessary to allow the sale of any of the units in the Corporation and provide the certificate for any section 32.
- Ensure that your Manager has professional indemnity insurance of at least $1.5 Million.
At BBC Strata Management we do all of the above and have $2 million Professional Indemnity.
Administrative Requirements are:
- Setting the budget.
- Collecting contributions and levies.
- Organising the AGM.
- Writing up and circulating the AGM minutes.
- Preparing and issuing detailed annual financial statements.
- One of the most important requirements is that you must have the best possible Insurance Coverage for the property and ensure that you are getting professional advice at a competitive price.
We do all of this too.
There are practicalities which need to be dealt with by the O.C.
- Insurance Companies.
- Estate Agents.
- Local Authorities.
There are also Monthly and Weekly Commitments.
- Paying O.C. Accounts,
- Managing O.C. maintenance and repairs,
- Making sure that your property is safe and secure.
We pride ourselves on our fast and efficient follow up. We also offer a 24/7 emergency assistance and all of our tradesmen are reliable experienced contractors.
WHAT SHOULD YOU DO NEXT?
Give us a call on 0404 079 761 and have a chat.