Changing Body Corporate/OC Management companies requires understanding contractual obligations and legislation. We provide expert guidance for a seamless transition.
We are a fully independent
brokerage service, focusing on facts and figures to assist you in changing body corporate/OC management.
Low barriers to entry mean there are over 1,000 registered OC management companies in Victoria – not every OC Manager is created equal. We partner with genuine service providers, not opportunists.
Our OC Management transition service is free when you choose one of the vetted OC management companies from our panel.
We help Committees when it comes to changing strata management companies. We help to guide Committees through the rules and regulations when it comes to making a change – and we help Committees to navigate the myriad of management companies in Victoria.
We work with Builders and Developers when it comes to setting budgets, drafting OC rules, and establishing new Owners Corporations. We are there working with you from project inception through to build completion and settlement.
Independent Feedback from past clients of Strata Management Melbourne™
A body corporate is a legal entity that is created when land is subdivided, and the common property has been created because of the newly created plan of subdivision. Any person (and all other owners) who owns a property within that plan of subdivision is automatically a member of the body corporate.
The body corporate as an entity exists to facilitate the management of the common property.
In Victoria, the term ‘body corporate’ was replaced with Owners Corporation when the Owners Corporations Act 2006 came into effect on 1 January 2007.
To have an informed understanding of a body corporate, we would be more than happy to guide you here at Strata Management Consultants.
Strata managers in Victoria charge $300 to $500 per lot on average (total of all above charges). Owners corporation management fees differ between different strata management companies, but typically the following factors will be determinants of the pricing:
It’s also important to note that Owners Corporation Management Companies derive their income/revenue from:
If you’re looking for a full free breakdown of strata management fees – click here.
If you are concerned about the fees charged by your incumbent management company or any other cost aspects of your building’s operating expenses, most welcome to email us at firstname.lastname@example.org and undertake a review.
Whether or not body corporate is compulsory in Victoria depends on how the title has been divided. This division of titles is known as Tiers, and each has its own rules and regulations regarding body corporate.
The Owners Corporations and Other Acts Amendment Act 2021 came into effect on 1 December 2021. The amendment categorises body corporates or owners corporations into the following 5 tiers and stipulates requirements for each tier:
|Tier 1||Owners corporation that consists of more than 100 occupiable lots/not a services only owners corporation.
|Tier 2||Owners corporation that consists of 51 to 100 occupiable lots/not a services only owners corporation.
✓ an independent person who is a member of CPA Australia
✓ the Institute of Public Accountants
✓ Chartered Accountants Australia and New Zealand
|Tier 3||Owners corporation that consists of 10 to 50 occupiable lots/not a services only owners corporation.
|Tier 4||Owners corporation that consists of 3 to 9 occupiable lots/not a services only owners corporation.
|Tier 5||An owners corporation for a 2-lot subdivision or a services-only owners corporation.
Learn more about the compulsory rules and regulations related to changing body corporate in Victoria.
Strata property is a property title or ownership in a strata-titled building i.e. an apartment building, townhouse complex, or office building where there are multiple owners. Strata title means shared assets or amenities (i.e. shared driveway, gardens, lifts, basement car park, swimming pools, etc.) and gives rise to the creation of an owners corporation. Strata property or, more accurately, strata-titled property differs from Torrens titled property, where you are the sole owner of the building and the land (with the only shared assets or property being the neighbouring fence).
For more information to better understand what exactly is strata property within strata management is through here.
A body corporate manager undertakes the key functions of accounting, insurance, documentation, AGMs, maintenance, and upkeep of the building, as well as providing guidance on owners corporation matters.
Strata management is also known as body corporate management and owners corporations management. These terms can be used interchangeably (depending on which state in Australia you’re in).
Strata management (or owners corporation management in Victoria) is the management of the legal entity that owners the common property of a building (i.e. the body corporate / strata scheme/owners corporation).
Strata management entails the convening and running of the Annual General Meeting, the setting of budgets, the collection of levies, the preparation of accounts and records, and responsibility for the upkeep of the building.
To learn about the role and responsibility of strata management in greater detail – Find out here.
In Victoria, the process to become a registered body corporate or owners corporation manager is surprisingly simple.
There is no education or certification requirement (the industry has long talked about national certification, but that is still a while away). According to Consumer Affairs Victoria, the eligibility for individuals and companies to become a registered body corporate or owners corporation manager is as follows:
To be eligible for registration you must hold professional indemnity insurance with a minimum coverage of $1.5 million.
You are automatically ineligible to be registered if you are currently:
To be eligible for registration the company must hold professional indemnity insurance with a minimum coverage of $1.5 million.
The company is automatically ineligible to be registered if:
The application fee for 1 July 2017 to 30 June 2018 is $202.80.
The application fee must be paid at the time of application.
Your body corporate does not need a managing agent if the body corporate or owners is classified as a Tier 2, 3, 4, or 5 owners corporation. Tier 1 owners corporations must have an owners corporation management company.
Owners Corporation Management Companies Owners Corporation Victoria (Management Companies) aka ‘OC Managers’ aka ‘formerly Body Corporate Managers’ contract their professional services to their clients (owners corporations) through a contract. In…
[Strata Management Melbourne – really compelling reason for all Committees to review their developer appointed strata management contracts!! If things aren’t then it’s time and opportunity to change body corporate…