What Are The Benefits Of Using An OC Management Broker?

Strata managers or OC management brokers are the essential links between a building’s owners and the broader world. They provide a wide range of body corporate services and are the go-to person for all things related to the building: maintenance, repair, construction, financial management, and more. In fact, a competent strata manager can be the key factor in deciding whether a development is a success or failure.

If you are unhappy with your current owners’ corporation manager, you’re probably wondering if there’s a better option. The answer is yes! With so many strata management companies out there, you’re definitely going to want to do your research and make sure you’re choosing the best company for your building.

A good OC management broker takes the guesswork out of changing your strata managers. They can help you with every step of the process, from the initial research to the final changeover process. Choosing a no-cost strata management broker can be the best decision you can take for your strata scheme.

Still not convinced? Allow us to take you through all the benefits of choosing an OC management broker:

OC Management Broker

The high-level expertise of OC management brokers 

The right OC management broker can provide you with high-level expertise in changing your body corporate company. With their tried and tested methods, you can always be sure that you’re choosing a strata manager who is capable of providing your development scheme with the best body corporate services.

Changing to or going into a new body corporate management company is not always straightforward. For starters, you have to research and narrow down your choices from the 1000+ strata management companies registered in Victoria, Melbourne.

Then comes the job of meeting the contractual obligations with the incumbent strata management company and following the due set of procedures afterwards. OC management brokers have specialized experience and knowledge of these procedures. When you hire an OC management broker to change your strata manager, it’s essentially like having an industry insider by your side.

 Save time in the changeover to new strata management

A good OC management broker can also save you a lot of time and effort in the changeover to new management. As we’ve already explained in the previous point, the process of changing over new strata management can be long and tedious.

Owners Corporation (OC) committee members have only so much time they can dedicate to the process, as they would have other competing responsibilities to deal with. Alongside our strata consulting services and hiring an OC management broker to facilitate and streamline the changeover can be the right decision here.

OC management brokers have years of experience in the industry and are familiar with all the steps and procedures in changing and appointing a new strata management company. They also have tried and tested methods for assessing which strata management company is capable of providing the right body corporate services for your building. They’ll be able to carry out the changeover much more quickly and save you from any costly mistakes in the process.

Professionalism

Besides saving you time in the changeover to new strata management, an OC management broker also brings a level of objectivity and professionalism to the process. Several problems can arise when you’re transitioning to a new body corporate management. One of the biggest issues is usually getting all the committee members to agree on the very decision to change the strata manager.

Since an OC management broker is an outside party, they’ll be able to offer an objective opinion on the level of body corporate services provided by the incumbent strata manager. After a consensus is achieved on the change, the OC management broker will help the OC committee with all the steps of the changeover. However, the final decision of choosing the new strata manager will always rest with the committee.

A cost-effective way to transition to new strata management 

A common concern among many body corporate committees is that hiring an OC management broker to change the strata manager will prove to be costly. Let us tell you that this is a misconception.

One of the biggest benefits of hiring an OC management broker is that all the services will be provided at no cost to the OC committee. The entire cost of the services is borne by the incoming strata management company. Besides, an OC management broker can also help in negotiating better contracts with changing body corporate companies in Victoria. This means that you’ll get the best body corporate services at practically no cost.

Ensure compliance in the transition

There are many compliance-related issues that have to be handled when changing to a new strata manager:

  • Contractual obligations
    Review the existing contract with the current strata to determine if there are any obligations or penalties associated with terminating the agreement early.
  • Notice periods
    Providing appropriate notice periods to the existing strata manager and any other relevant parties, as specified in the contract and local strata laws.
  • Handover of records
    Ensuring that all records, financial documents and other relevant information are handed over to the new strata manager.
  • Conflict of interest
    Ensuring that the new strata manager does not have any conflicts of interest that could impact their ability to act in the best interests of the owners’ corporation.
  • Fees and charges
    Handling the fees and charges associated with changing strata managers, including any termination fees or additional costs.

An OC management broker can take care of all the compliance issues, avoiding costly legal disputes and protecting the interests of all members. Put simply, hiring an OC management broker comes with some real benefits for streamlining and speeding up the changeover to new strata management.

With the help of a no-cost OC management broker like Strata Management Consultants, owners’ corporations can choose a strata manager who is capable of providing body corporate services more efficiently.

Do you have any questions about changing your strata management company? Contact Strata Management Consultants or call us today at 1300-917-848.

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
February 24, 2023
Contributed by
David Lin
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