Why the Landscape of Body Corporate Companies in Victoria is Changing

Why the Landscape of Body Corporate Companies in Victoria is Changing

2016-09-27 12.40.43

Body Corporate Companies in Victoria

In the years and decade prior to the Owners Corporations Act 2006 coming into effect, Victoria had experienced an influx of a motley crew of so-called ‘body corporate services managers.

The previously legislative landscape was not onerous and that became the basis for a lot of real estate agents, bookkeepers, accountants, and others to offer an additional side business of providing Victoria body corporate services.

However in 2005 with the impending Act going through the final stages of the Victorian Parliament a lot of entrants made quick exits and fire sales abounded.

Enter 2019, over a decade since the Owners Corporations Act 2006 has been in force and what we are seeing is a lot of history repeating itself. Sure, the industry has changed immensely in the intervening years and yes, the number of owners corporations has greatly increased but the opportunists and their agendas remain the same.

What we are seeing now is the next wave of all sorts entering the strata industry and offering Victoria body corporate services – these entrants vary greatly in their experience (or inexperience), knowledge (or lack thereof), and agendas…

As independent consultants meeting with, speaking with, and working with body corporate Committees and Owners, we’ve certainly seen a lot! And when comes to these Victoria body corporate services providers, there’s definitely of locked-in terms, unfair contracts, hidden fees and charges, excessive costs, unjust additional services contracts, unprofessional conduct, bad advice, unwillingness to accept contract terminations, willingness to fight the owners corporation at VCAT to keep their contract or for excessive payouts……. And we could go on and on….

So the casing point and takeaway should be that Victoria body corporate services providers vary GREATLY across the board. Do your homework or speak to us or someone who knows the lay of the land.

In one of our last articles, we talked about the staggering ease in becoming a Victoria body corporate services manager. There are over 1,300 registered Victoria body corporate services managers – spanning companies, partnerships, and sole proprietors. A lot of these body corporate managers are new and green – more worrying however are the hiccups and losses that their clients (Committees and Owners) due to their negligence and incompetence. Yes – not putting things lightly here. Let’s examine Victoria body corporate services in closer detail.
Victoria Body Corporate Services
When it comes to choosing and changing Victoria body corporate services providers – Be wary. Be diligent. Be sceptical.

Or of course (self-promotion here) – speak to us when it comes to changing Victoria body corporate services providers – Strata Consultants Melbourne. We are 100% independent Victoria body corporate services brokers and consultants. We’ve been trusted by owners corporation Committees and Owners since January 2014.

We choose, vet, and scrutinise Victoria body corporate services providers carefully and thoroughly.

Time to Change Body Corporate Management Companies But Not Sure How to?

Strata Consultants Melbourne has been helping and guiding Committees on how to change owners corporation management companies since January 2014. We guide you through the process of changing body corporate management company and everything is done according to the body corporate rules and regulations. Speak to a Strata Consultant about changing owners corporation managers on 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.

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