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Choosing a Body Corporate Management Company

Date 31 Jan 2022
Date by

Strata Sphere Management

Date Strata Sphere

Choosing a Body Corporate Management Company

There are many factors to consider when considering the engagement of a Body Corporate Management company. When making this choice, you are placing your trust in their team to ensure your Body Corporate meets compliance and obligations within the legislated timeframe.

In most cases, a member of the Committee will make contact with Strata Sphere Management, whom they have been referred to, or located via online search engines.  We believe that a meeting with that Committee member ensures that our company is well-versed in the requirements of the body corporate and also the expectations for performance.

The following factors should be considered when considering the engagement of a body corporate management company –

  1. Support – Are the front facing body corporate managers supported by a good team of administrative personnel to deliver the required outcomes?
  2. Qualifications and Accreditation – Is the Body Corporate Management company accredited via the Strata Community Association (SCA) in its relevant State. A reputable Body Corporate Management company will be a member of the SCA. The SCA provides a code of ethics, hence professional standards and concerns can be addressed and resolved through SCA Qld’s Professional Standards Committee. Being accredited via the SCA allows for up to date legislative changes and best practice principles, as well as offering ongoing training for Body Corporate Management companies and their teams.
  3. Company Insurance – Does the Body Corporate Management company hold professional indemnity insurance?
  4. Experience – Experience within the Body Corporate industry is vital. Each Body Corporate faces varying challenges and it is important that the Body Corporate Management company of your choosing, has the prior experience in navigating challenges within your community and has team members that can offer sound, commercial and pragmatic advice through experience with best practice, as well as the legislation.
  5. Service Levels and Expectations – Documented service levels are an important guide, allowing transparency of expectations. The Body Corporate Management company of your choosing must ensure they are held accountable to their published service levels. Our service levels include items such as –
    1. Telephone calls will be returned within 24 hours (one business day);
    2. All correspondence and communication will be acknowledged within 72 hours (three working days);
    3. Minutes of Meetings will be prepared within 5 days of each meeting;
    4. Follow up from meetings will be done within 10 days; and
    5. Communication will be kept simple and effective to ensure the Body Corporate is kept up to date at all times.
  6. Clear Agreement Conditions – Body Corporate Management company agreements should be clear in their terms. Ensure you understand each line item so as to understand all costs associated moving forward, encompassing agreed services and additional services. Queries resulting from review of our Agreement are always welcomed. We believe all parties should have an understanding.
  7. Progressiveness – Is the Body Corporate Management company stepping forward with the world we are now living in? Do they have procedures in place to allow for things such as online meetings, online invoice approvals or online voting. Being able to show progressiveness ensures that your Body Corporate is given the best opportunity for better functionality.

Now that you understand the importance of choosing the right Body Corporate Management company for your Body Corporate, please reach out to Strata Sphere Management, where we are able to tick all boxes required to ensure that you are choosing the right company and team to protect your investment.

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Covid-19

Our office continues to monitor statutory declarations from various levels of government in response to Covid-19. In these uncertain times, it is important to us to protect our team and our valued clients and colleagues. In response to the spread of new variants of the coronavirus within the community, we advise our valued clients and colleagues that Strata Sphere Management remains open for business in a modified capacity.

Our team and our clients are not immune from the possibility of unwittingly contracting this virus and it is important for all stakeholders to be protected to the largest extent possible. Therefore we are taking the step of closing our office to visitors until 24 January, 2022. We trust that our clients and colleagues, who we consider to be an extended part of our work family, will understand that it is necessary for our team to be protected in order that we can continue delivering an exceptional and confident body corporate management experience.

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