Body corporate services companies manage the day-to-day affairs of properties that have multiple units and are owned by different investors. They are a specialised service provider for the property management sector in Australia. If you own an apartment, or apartments, in an apartment complex, you need a body corporate service to manage the needs of the tenants.
Apartments that are jointly owned by many investors must be managed in accordance with the laws of the state. The interests of all parties that own a building complex must be taken into consideration. A reliable third-party provider is often the best option for this.
Strata management or body corporate management is a complex process that involves balancing the interests of multiple owners of a property as well as the tenants. The service provider must be up to date with the laws and regulations that apply in the state the property is located since these change on a regular basis. Make sure you work with a company that has extensive experience managing properties similar to yours.
A strata management service ensures the proper maintenance of the common areas of an apartment complex or property. Repairs and tenant requests should be performed in a timely manner as proper maintenance of the property improves tenant retention rates. A reputable body corporate company should have a good relationship with tradesmen and suppliers in the area so that they can get the work done at competitive prices. The strata management company can also resolve issues between the various investors involved in the project.
Make sure you do thorough research before choosing the a body corporate services company for your building. Make sure to conduct a background check on the candidates you find to ensure they are reputable and have a good track record before making a choice. They must be cost-effective and perform work professionally and respond to all owners requests in a timely fashion. Make sure to heck references and study their service contracts carefully to ensure you don’t end up with a substandard service. Your contract needs to ensure that the provider itemises all the services they will provide – it is a red flag if a provider will not do this. In general terms, you also want to choose a provider who has specialised knowledge of your area as this will save you time and money in the long run and avoid having to change providers and go through the whole process again.
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