According to Strata Spot, three million Australians reside in strata properties. That’s three million people who pay levies to their condominium association in exchange for certain services, privileges, and access to well-kept common spaces.
Owner companies, on the other hand, might become overwhelmed when charged with running a large facility like a well-oiled machine. Owner’s corporate managers can assist, but do you know how to see the indicators that you might need to hire one?
Projects Are Frequently Over Budget and Behind Schedule
Building improvements should be carried out on a regular basis in strata. If projects are consistently late or over budget, it may be time to engage a project manager.
Body cooperate managers collaborate with the building management or hired contractors to create and implement a strategy for any significant construction projects. All estimates and repairs will be arranged by the proper owners corporation Ballarat, who will also establish budgets, organize and implement schedules, engage contractors, and supervise work.
In general, he or she will serve as a liaison between all parties involved ensuring that everyone is on the same page and that time and budget estimates are realistic and adhered to. So, ask yourselves, in your owners company, who is in charge of refurbishment scheduling and budgeting?
There Is a Lack of Communication
The fact that there are just too many cooks in the kitchen is a typical source of frustration in many owner companies. This is especially true in bigger strata projects, where the body corporate may consist of hundreds of persons. For this purpose, it’s critical to have someone who can successfully bring together diverse administrators, board members, and residents.
How can you know if your communication isn’t up to par? Perhaps maintenance calls go ignored for long periods of time, or various members of your owners company have differing perspectives on how or when something should be done.
You’d be surprised how much time it takes to communicate efficiently in a big owner’s organization, but it’s essential if you want your building to function well. So, you don’t have to, an owners corporation manager can optimize your communication and keep all records for you.
Unpaid Invoices Are Common
According to Xero, six out of ten small companies in Australia would be unable to stay afloat for more than three months if their invoices were not paid.
Simply said, failing to pay your bills does not aid Australia’s development. Unfortunately, many business owners get into the trap of not paying or paying late because no one is paying attention to the task. An owner’s corporation manager can make this process go more smoothly by ensuring that all invoices are received, reviewed, and paid, ensuring that your plumber, janitor, pool cleaner, painter, and anybody else you hire is never left unpaid.
An owner company manager does a lot more than that. They are also responsible for monitoring meetings and producing notifications, agendas, and minutes, as well as keeping track of all owners company registrations and the roll, and responding to all orders, requests, and appeals.