We Helped Owners Corporation in Prahran to Save $9,419

In June 2022, Denise contacted us about her building in Prahran. The building was a block of apartments that had been managed by the same management company for many years and the Committee were concerned on some number of issues – building issues that not seemed to be quite resolved, the Committee having to do a lot of the heavy lifting, and the high turnover of OC Managers assigned to their building.

 

Qualified OC Management Companies

Every single OC 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 (Prahran, 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 $28,079 $22,750
Disbursement $3,575 $0
Software, Work Orders + Misc. $600 $85
Other Additional Charges $0 $0
Total Strata Management Costs $32,254 $22,835

 

*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 Prahran $9,419 per year on their strata / OC management costs.

 

Thinking About Changing Strata Management Companies?

Take the first step in process of changing owners corporation management companies for your property in Prahran by speaking to a Strata Management Consultant at 1300-917-848 or email us at 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
January 18, 2023
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