How We Support Your Owners Corporation’s Success
Managing an owners corporation requires careful attention to detail, from maintaining records and finances to guiding legislative compliance and insurance. Here’s how our team provides comprehensive owners corporation management services to keep your property running smoothly and in line with Victoria’s best practices.
Records, documentation & reporting
- Maintain the Owners Corporation register, including the names and addresses of Lot owners
- Keep the records of the Owners Corporation including meeting minutes, correspondence, building information and service provider contracts
- Keep and supervise the use of the Owners Corporation seal on relevant documents
- Prepare and issue Owners Corporation Certificates and answer reasonable enquiries at the cost of the applicant
- Deal with routine inwards and outward correspondence
- Provide a summary of, or copies of, documents identifying revenue and expenditure, transactions on accounts and correspondence received and sent concerning, or on behalf of, the Owners Corporation if requested by the Committee
- Arrange for a qualified person or company to prepare a Long-Term Maintenance Plan for the Owners Corporation.
Accounting & Finance
- Establish and operate an individual bank account in the name of the Owners Corporation
- Reconcile the Owners Corporation’s bank account in accordance with good accounting practices and relevant laws
- Keep financial records and prepare annual financial statements covering all Owners Corporation revenue and expenditure and assets and liabilities
- Arrange an external qualified auditor to audit the Owners Corporation’s financial records (if required)
- Establish a fund for the Owners Corporation to hold monies assigned for long-term maintenance as directed by the Owners Corporation
- Prepare an annual budget statement for approval of the Owners Corporation
- Issue notices for fees set and special fees levied by the Owners Corporation
- Ensure that all monies due and payable to the Owners Corporation are collected in a timely manner, either by itself or through third parties deemed appropriate by the Manager, and, where appropriate and legally allowed, late fee penalties and/or interest on outstanding monies are imposed
- Pay invoices and insurance premiums on behalf of the Owners Corporation
- Invest surplus funds as agreed to by the Owners Corporation
- Prepare and lodge all relevant financial and taxation reports, returns and requisitions with the Australian Tax Office.
Meetings & Ballots
- Convene and attend the Annual General Meeting, Special General Meetings (as required) and Committee Meetings (as required)
- Prepare and issue meeting notices and agendas accompanied with relevant documentation for meetings (annual financial statements and a report of the Manager’s activities to accompany an AGM notice)
- Prepare and issue minutes for meetings
- Prepare and issue Owners Corporation and Committee of Management ballot forms
Legislative Advice & Guidance
- Provide comprehensive and learned advice in relation to the requirements of the Owners Corporations Act and Regulations
- Provide verbal and/or written advice to the Owners Corporation on request of specific matters reasonably regarded as within the scope of knowledge and/or practice of a person carrying out the duties of a paid manager of an Owners Corporation
- Otherwise provide such verbal and/or written advice to the Owners Corporation as is reasonably necessary to enable the Owners Corporation to carry out and perform its duties and functions
- Guide building managers and caretakers in performing their required duties.
Insurance.
- Arrange placement of insurance only with authorising licensees
- Arrange a valuation of the cost of reinstatement and replacement of the building/s as requested by the Owners Corporation
- Prepare and lodge routine insurance claims with insurers/brokers
- Provide any other insurance services regarding insurance products offered through the authorising licensees.
