It is important to have a dedicated overseer when it comes to property management and that is where a body corporate manager or a strata manager comes in. This will be the person that is responsible for maintaining the common areas in the property development. In addition to this, they will comply with regulations pertaining to strata properties and manage the shared resources effectively.
When it comes to shared living space
It includes communal driveways, gardens and apartment blocks that have shared facilities like swimming pools. Each owner will have an individual right to their unit but the common areas are owned collectively. Therefore, these common areas will require corporative management. To ensure seamless functioning of these assets, a Body Corporate Ascot Vale is required. They will obtain insurance where necessary and keep up with all by-laws and regulations so that they can comply with legislation. The body corporate manager will organise meetings and keep meeting records so that everyone is updated of what is happening in the strata property. They are an invaluable asset to a strata scheme as they are able to streamline the processes of the property efficiently.
Navigating legal compliance
Can be very tricky and requires a professional that is well-versed in legislation. There are also many updates to this from time to time and it is important that the body corporate manager keep up with the changes so that the property and the shared living spaces comply with the regulations. Some of the tasks they will carry out in this regard will be financial reporting, maintaining certain guidelines when it comes to maintaining common property and holding the annual general meetings. The body corporate manager will also obtain the appropriate insurance coverage for the owners’ corporation and maintain it.
They will first assess the insurance needs of the property ensuring that the common areas are sufficiently covered. They will liaise with insurance providers and obtain competitive quotes. When it is required to handle insurance claims, they will take charge of this as well. The body corporate manager will maintain clear communication and organise meetings so that the owners can address concerns of the property. They will be able to make collective decisions at the committee meetings, annual general meetings etc. so that everyone is part of the decision making process.
Property maintenance is another matter
That will be handled by the body corporate manager and this includes repairs, cleaning, landscaping, renovations etc. The day to day maintenance of shared spaces is carried out by the body corporate manager. They will have a network of contractors they work closely with so that the property is well maintained and the aesthetical appeal is preserved. They will take a proactive approach to preserve the value of the property and elevate the overall living experience of the residents. The body corporate managers will also keep accurate records and documentation so that they can serve as a reference point. This can be very helpful in making decisions and resolving disputes.