Body corporate management is specialist area of property management involving the day-to-day operation and management of a property with multiple owners, shared common areas and common facilities.A body corporate manager’s role is varied and their functions be broadly classed as administrative, financial and general.
Administrative responsibilities may involve:
• Attending to correspondence and replies promptly;
• Convening and conducting the Annual General Meeting;
• Convening and conducting Committee meetings as frequently as required;
• Arranging maintenance, repair and replacement of the common property;
• Preparing and serving notices, including Notices of Meetings, Circulars and Levying Maintenance Contributions;
• Lodging of all insurance claims and follow-up on progress of claims;
• Assisting in handling of complaints;
• To provide general advice and assistance to the Owners Corporation; and
• Keeping of records of the Owners Corporation and archiving of files.
Financial responsibilities may involve:
• Preparing annual budgets and levies for the Owners Corporation (or Committee) approval;
• Monitoring of all invoices for payments, confirm that they have been authorized and are consistent with quotations;
• Ensuring all amounts owing and owed by the Owners Corporation are paid on due dates;
• Preparing statements of financial performance and financial position on a GST inclusive basis from the date of assumption of management;
• Collecting maintenance contributions, receipts and attending to all banking requirements; and
• To keep Books of Account and prepare necessary Statements of Account.
Other general responsibilities may involve:
• To maintain and update a roll of owners names, addresses and contact details;
• Preparing of Owners Corporation certificates;
• Ensuring proper, adequate and most competitive insurances are affected and promptly renewed;
• Enforcing rules relating to the common property;
• Advising the Owners Corporation and Committee on matters of procedure and management;
• To arbitrate disputes between Owners; and
• To amend or include rules and by-laws considered necessary for the well being of the Owners Corporation.