Strata Management for Property Developers
All new developments have a consistent process that Body Corporate Strata Group would assist and step through, making sure we can provide additional value to our overall purpose of managing the Owners Corporation.
Stage 1. Initial Meeting/s - Understanding of Owners Corporation
Gathering of information such as:
- Draft building plans and plan of subdivision
- Understanding of common services (i.e. elevators, common electricity, stairwells, gardens, etc.)
- Identification of multiple Owners Corporations
- Developer's expectations
- Introduction to Body Corporate Strata Group and service capabilities
Stage 2. Body Corporate Strata Group Management Proposal
Stage 3. Preparation of Indicative Budget
Based on all information gathered from initial meetings, Body Corporate Strata Group will prepare and indicative budget based on what the expected, annual Owners Corporation fees will be. The indicative budget helps the developer and sales team when selling off the plan for prospective purchasers who may inquire about the Owners Corporation fees.
Stage 4. Contract of Appointment
Upon acceptance of our proposal and indicative budget, Body Corporate Strata Group will require a Contract of Appointment to be signed for the authorization to act on your behalf through all stages of the development affecting the Owners Corporation.
Stage 5. Marketing & Sales
We will assist through all facets of the sales process affecting the Owners Corporation, such as:
Stage 6. Setting up Owners Corporation
Prior to settlement of your unit/s, we will require specific information to set up the Owners Corporation, such as:
- Registered Plan of Subdivision
- Certificate of Occupancy
- Preparation and completion of the Inaugural Annual General Meeting, including finalisation of minutes
- Payment of Owners Corporation Strata Insurance which is triggered by the issue of your Certificate of Occupancy
- Invoicing of Owners Corporation fees
At this stage, we will also obtain your ABN number, common seal and set up the Owners Corporation bank account
Importantly, all pre-paid costs expended by the Developer relating to the Owners Corporation establishment including Strata Insurance are reclaimed at the time of settlement of your property either in full or pro-rata
Stage 7. Settlement
- Completion of Owners Corporation Certificates with required documentation attached
- On-site inspection of property with Owners Corporation manager
- Affixing of Owners Corporation Management sign
Stage 8. Welcome to Body Corporate Strata Group
Often the purchaser has never been involved with an Owners Corporation, we see the first time they may have anything to do with our company is by receiving an invoice.
To make sure they are aware of the services the Owners Corporation are responsible and by way of introduction, all owners receive a detailed welcome kit with facts about the services the Owners Corporation provide, model rules , contact details and much more.