Owners Corporation in Caulfield Changed OC Management Companies and Saved $3,083 p.a.!

In October 2021, Ken and his Committee contacted us about his building in Caulfield North. The building was a newer block of apartments and the Committee had concerns about some of the high expenses that they were incurring as an OC. The matter was also delicate as the Committee Members had concerns about how the Chair was controlling and seeking to control the entire operation of the building in conjunction with the OC management company.

The Committee wanted to have an outside strata expert review their Minutes and operating expenses – and seek our input as to areas for improvement for their building and OC.
 

Qualified OC Management Companies

Every single owners corporation management company we work with is carefully vetted and scrutinised in terms of their:

  1. OC experience and relevant qualifications
  2. Service and service metrics
  3. Integrity & values
  4. Dedicated strata software platform, systems, and processes
  5. On-going knowledge and training

Our expertise and industry knowledge takes the guesswork out of changing management companies.
 

Changing Owners Corporation Managers (Caulfield North, VIC)

We met with the Committee to understand their concerns with the incumbent OC manager and discuss what they would expect of their new OC manager.

After compiling a RFT with information and specifications particular to their building, we conducted a tender process. We met again with the Committee and helped them to understand all the new OC management proposals in terms of their offerings, qualities, and costs.

The Committee chose a company that was less expensive than their incumbent and we assisted with the appointment process.

 
COST COMPARISON

OLD OC MANAGEMENT CO. VS NEW OC MANAGEMENT CO.

Cost Comparison Previous OC
Management Company
New OC
Management Company
Management Fees $7,650 $6,930
Disbursement $1,095 $0
Software, Work Orders + Misc. $540 $94
Other Additional Charges $822 $0
Total Strata Management Costs $10,107 $7,024

 

*OC guidance for all Committees: be careful when it comes to OC management contracts and ‘open-ended, blank cheque’ disbursements sections. Some OC management companies charge for every work order, phone call, email, page of paper, printing, postage, envelope, etc.

The vast majority of OC management companies that we work with – charge a fixed, all-inclusive fee for their disbursement costs. And of these OC management companies, most will waive their disbursement fee if lot owners elect to receive OC notices electronically.

 
We helped the Committee to help save all owners in the owners corporation in Caulfield North $3,083 per year on their strata / OC management costs.
 

Needing OC Guidance on How to Change OC Management Companies?

Take the first step in process of changing owners corporation management companies for your property in Caulfield North by speaking to a Strata Management Consultant at 1300-917-848 or email us for specialist OC guidance via office@strataconsultants.com.au

Meet the Strata Consultants Melbourne team – https://strataconsultants.com.au/our-team

 

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 07, 2023
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