Self-managing your body corporate can be a complex and time-consuming task. From administrative responsibilities to financial management, the demands can quickly become overwhelming for property owners and committee members.
This is where outsourcing body corporate management services can be a game-changer. In this blog post, we’ll explore five reasons why partnering with a professional body corporate management is the right decision.
Navigating the intricate web of laws and regulations governing bodies corporate in Queensland requires a deep understanding of the legal landscape. Professional body corporate management firms like BCsystems, have experience from both an accounting and administrative perspective, as well as a team well-versed in the Body Corporate and Community Management Act, ensuring that your property is always up-to-date with the latest regulations.
Whether it’s fire safety, or the correct way to take minutes at your AGM, working with a professional body corporate manager allows you to tap into their specialised knowledge, reducing the risk of legal complications and ensuring the smooth operation of your body corporate.
Managing a body corporate involves a multitude of tasks – from organising meetings, to collecting levies and maintaining accurate financial records.
Given that most committees are made up of volunteers, often juggling families and full-time jobs as well, outsourcing these responsibilities can alleviate much of the cumbersome administration and accounting aspects of the role.
Professional body corporate managers have the resources and systems in place to efficiently handle the day-to-day operations, leaving the committee to focus on the planning and upkeep of the property.
One of the critical aspects of body corporate management is financial stewardship, where all bodies corporate are required to maintain transparent and accurate financial records, and keep these in a specific way for the required time. Importantly these financial records must be disclosed to all owners, prospective buyers, and government authorities like the ATO.
A professional body corporate manager can provide expert advice in this area, avoiding financial discrepancies and ensuring the collection of levies and allocation of funds is in the best interest of the building and ultimately the lot owners.
Conflict is inevitable in any communal living setting, and effective resolution is crucial for maintaining a harmonious environment. Professional body corporate managers are experienced in conflict resolution and communication, ensuring that disputes are resolved in a timely and amicably manner.
Like most industries, technology plays a significant role in streamlining the processes of body corporate management. Outsourcing to professionals gives owners and committee members access to online portals, automated forms, and electronic voting that can enhance the efficiency and effectiveness of your body corporate.
By-laws are the set of regulations established by a body corporate to oversee and regulate how a body corporate should operate. Your scheme’s by-laws are found in Schedule C of your body corporate’s Community Management Statement (CMS).
Many body corporate decisions are decided by vote at either an annual general meeting or an extraordinary general meeting. This article looks at the different types of resolutions and the criteria required to determine an outcome.
