Townhouse Strata Services
Financial Management
The strata funds belong to ALL owners and for this reason morally as well as legally the funds must be accounted for in a safe and correct manor.
Have you considered:
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Are your funds in the correct type of account ?
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Do you have to do a tax return?
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Are the accounts available for a strata searcher to inspect?
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Are your accounts audited? Do they need to be?
Capital Works Plan Management
Legislation states "YOU MUST" have a Capital Works Plan
A capital work plan is to ensure that the property is in as good a condition in 10 years as it is today. To do that you will need to budget carefully to "save-up". For example in 8 years time if the complex needs painting costing $40,000, & there are 8 units that's a massive $5,000 each to find rather than $50 per month saved out of the levies.
Maintenance Management
Between us we agree a list of contractors to use for your townhouse complex, they then get top know you and your property = reliable work for a fair price.
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You can select any contractor to be on the list, as long as they are qualified and insured. After the work is complete, YOU say when your happy with the work and only then are the contractors paid.
By - Law Management
By-Laws are there for your protection
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Outdated By-laws can easily cost you all a great deal of money if :
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A repair goes wrong
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Some one wants to renovate
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There are issues with safety equipment
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Unwanted inappropriate pets
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Someone refuses to pay levies etc....
Levy Management
There is a myth that your levies are paid to a strata company as a charge and they set the amount.
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WRONG - Your levies are to pay for the upkeep of your building and pay for the bills you acquire. Less than 10% is for the strata management.
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WRONG - YOU set the levy amount not us. YOU choose how much everyone should pay.
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Documentation storage
Legislation states you MUST keep records & they must be available to view when requested by owners and strata searchers etc.
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If someone buys a property in your complex they should have a strata search. If you documents are just in a box then how can this be achieved efficiently and accurately?
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What happens if the person who keeps your records suddenly can't ?
Insurance Management
Insurance is the most important purchase that your strata scheme makes each year. Choose the wrong insurance and this could cost you as a group and home owners as individuals a great deal.
Strata insurance is not like other property insurances and what is covered varies greatly from insurance company to company. Each year we will find 3 best options for you and then YOU choose what's best for YOU
Compliance Management
Fire - Are you in line with regulation ?
Does your fire equipment need regular servicing ?
If there was a fire who does what?
Who will spend the countless hours on insurance claims ?
Is temporary accommodation required ?
Who will manage the repairs ?
Who's was responsible ?
Could it have been avoided ?