Body Corporate Management
Network Pacific currently manages property in excess of $1.5 Billion across five states in Australia and with a turnover of $50m annually, it makes our company uniquely placed to face the challenges your property has to offer.
Our company is qualified and licensed to operate in Victoria, New South Wales, South Australia, & Northern Territory. This provides us with a unique opportunity to view the needs of each Body Corporate from a global viewpoint therefore offering sustainable solutions to traditionally difficult problems.
Bodies Corporate provide a legal framework in which unit owners or occupiers can enjoy common property together.
Our company's prime objective with body corporate management is to ensure the creation of a harmonious environment and ensuring that members' investment within the building is being maintained and serviced in accordance with legislative and benchmark standards in the property industry.
Our Role
Our obligation and responsibilities to all members would be to carry out the following:
- Ensure that our firm acts in the interest of the property and body corporate members whilst engaged as their representative.
- Attend all meetings and assist with the co-ordination of the agenda, and advise all members of their rights and obligations.
- Collect levies from all members.
- Keep an accurate set of financial records at all times.
- Present a full set of financial records to the members at the appropriate meetings.
- Call annual meetings to set income and expenditure budgets.
- Call and attend other meetings as requested from time to time, by body corporate members.
- Maintain an accurate record of correspondence, asset register, strata plan, rules and regulations.
- Ensure the placement of appropriate insurance levels are maintained.
- In addition to the above, our firm transacts all strata property administration funds through a registered real estate trust account.
Within each twelve month period an independent audit is carried out, this provides our clients with the required crosscheck to ensure the trust account is maintained correctly.
Service Levels
Our Company provides the following services to the Body Corporate;
- Administration Records; Requirements currently placed on our firm under legislative guidelines nationally have ensured our involvement in maintaining a high level of body corporate reports and records.
- Budget Forecasts; All expenditure levels are checked against existing strata plans to establish if the levels of expenditure are in line with similar like properties.
- Repairs & Maintenance; Prior to the hand over of each property our firm obtains proposals from highly reputable facilities management companies to carry our regular maintenance and repair works as required. Quotes for all repair works are obtained if it has been established that the cost of the repair is in excess of $500.00.
We have established a call centre that is available 24 hours a day, 365 days a year to handle all maintenance enquiries. The call centre is available for both tenants and landlords to report and request job maintenance issues. For more information on our call centre please go to CLIENT SERVICES - HELP DESK
Functions
The powers and functions of a body corporate and its members are contained in the Act, regulations and in the body corporate rules.
A body corporate is responsible for:
- the general management and administration of land and buildings in the subdivision including, in particular, any common property;
- taking out and maintaining insurance, including compulsory public liability insurance and reinstatement and replacement insurance;
- properly maintaining common property, and chattels and fixtures related to the common property;
- maintaining services to the property;
- taking action necessary to ensure compliance with regulations and rules;
- providing statutory certificates to owners or prospective purchasers;
- providing information about the body corporates financial position;
- workers compensation (selected states)
Insurance
A body corporate must take out the following insurance in respect of common property:
public liability insurance to include cover for any bodily injury to or death or illness of a person and any damage or loss to property sustained as a result of an occurrence on the common property. We recommend public liability cover should be at least $20 million.
reinstatement and replacement insurance for certain damage to body corporate property.
Current legislative requirements for our body corporate portfolio requires total involvement in relation to the preparation and subsequent implementation of body corporate insurance policies.
In assessing the insurance policy we ensure the inclusion of the following categories:
- Building Cover
- Office Bearers Liability
- Public Liability
- Temporary Accommodation
- Fidelity Guarantee
- Common Area Contents
Facilities Management
If required Network Pacific engages an independent contractor that specialises in facility & maintenance management.
A Facility Manager is responsible for the planning, provision and management of the building assets and is primarily concerned with ensuring all building assets and equipment are maintained in accordance with the building guidelines of Australia.
For further information or to discuss your specific body corporate requirements please contact info@networkpacific.com.au or call 03 9816 4722.
To obtain a free quote please click here