“All body corporate managers are the same and useless!”

Those are not our words but rather what a Committee Member of ours wrote to us in an email. In fact, those weren’t her words, but rather the response she received when trying to get her OC Committee to take action. 

Our Committee Member had enough of slow responses and general disinterest in OC matters from her owners corporation management company.” She emailed the Committee to get together to discuss what could be done to improve things and this was the response that she received: 

 “Most of the people have said that all body corps are the same and useless. 

In Victoria, that experience and sentiment might perhaps be more commonplace than in other states of Australia.  

Body corporate managers (now known as owners corporation managers) in Victoria in general as an industry is perhaps be viewed in this way: 

  • In the 1970s and 1980s – definitely not an ‘industry’ of any size or scale and was serviced by small operators.
  • In the 1990s industry growth but still not as significant as property management in terms of size and revenue. A few emerging companies start to develop into businesses of scale – with staff, systems, and processes also being developed.
  • In the 2000s, increased interest in the industry with professional off-the-shelf strata software being developed:
    • A lot of operators and opportunists who saw body corporate management as a side or additional income stream rushed to enter the industry (i.e. the accounting practices, the small real estate businesses, the one-man operators)
    • Most of these operators exit the industry through ‘fire sales’ as the new and more complex Owners Corporations Act 2006 came into force on 1 January 2007.
  • Present day, like any industry in Australia:
    • There are good operators; and
    • There are bad operators.
    • We work with service-focused and professional Owners Corporation Management Companies.
    • We know the industry and we know the companies that we work with.
    • We regularly turn away companies that approach us for a variety of reasons.

 

 

Read more of our thoughts and thinking regarding the owners corporation management industry in Victoria: 

 

The contents of this article or website are only intended to provide a general overview of the topics discussed. The author of this article makes no representations as to the accuracy or completeness of any information and the information is not intended to constitute investment, legal or professional advice. You should seek professional advice before acting or relying on any of the content. This article does not contain references to any specific company, organisation or individual, unless expressly specified.
Posted
July 08, 2024
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