Frequently Asked Questions (FAQ)
1. Strata Titles [ top ]
General Meetings [ top ]
- How often do we have to have an Annual General Meeting?
- Who can call an Annual or Extraordinary General Meeting?
- What constitutes a quorum at a meeting?
- Who can vote at a meeting?
- What issues can be voted on at a meeting?
- Who can chair a meeting?
How often do we have to have an Annual General Meeting?
It is prescribed under the legislation that the corporation must hold at least one “Annual General Meeting” in every calendar year and must be no more than 15 months after the previous meeting.
Who can call an Annual or Extraordinary General Meeting?
A strata corporation can hold a meeting of its members at any time and this meeting can be convened by either the secretary of the corporation, any two members of the management committee (should the corporation have one) or one fifth or more of the owners of the total amount of units.
What constitutes a quorum at a meeting?
A quorum (minimum number of members needed to hold a legal meeting) for a General Meeting is not less than half the number of members present either in person or by Proxy within 30 minutes of the appointed meeting time.
All registered members (unit owners) may exercise one vote for each unit that they own. A member may also give their vote to a proxy to either vote as directed by them on a matter or as they wish at the meeting.
In the case of a unit being owned by more than one person the owners collectively are only entitled to one vote per unit.
What issues can be voted on at a meeting?
A general meeting of the Body Corporate is called to ensure that the corporation carries out the functions that are legislated to administer and maintain common areas and all other property of the corporation.
An agenda outlining items to be discussed should be sent and received no later than 14 day’s prior to the meeting so that they can be considered and members unable to attend can direct their proxy on how to vote on certain items.
It is the responsibility of the Presiding Officer to chair any general meeting of the Body Corporate but in their absence any member entitled to vote may be chosen to chair the meeting. The chairperson may also request assistance in chairing a meeting and in the majority of cases a professional Body Corporate Manager will assist to ensure that all legislated requirements are met.
Finances [ top ]
- What is a financial statement?
- What is an administration fund and what is it for?
- What is a sinking fund and what is it for?
What is a financial statement?
A financial statement is a proper accounting document that records all receipts and expenditure of the corporation in respect to each accounting period. This document must be presented at every Annual General Meeting and passed as accurate by members.
What is an administration fund and what is it for?
The administration fund of the corporation is calculated to cover all expenses that the corporation will likely expend in the normal day to day running of the Body Corporate. Items such as general maintenance, insurance, administration, bank fees and audit fees are paid from this account.
What is a sinking fund and what is it for?
A sinking (or accrual) fund is set aside to cover major upcoming expenses of the corporation. Items such as painting, major repairs, refurbishments and substantial upgrades or improvements are items that sinking funds are generally set for.
Insurance [ top ]
- What does the Body Corporate Cover and what should I insure?
- What is covered by the Body Corporate insurance?
- What other insurances may Bodies Corporate need?
- How do I make a claim?
- How do we know if the Body Corporate is adequately insured?
What does the Body Corporate Cover and what should I insure?
The Body Corporate must keep all buildings and building improvements on the site insured to their full replacement value. The policy must be for prescribed events under the Insurance Contracts act 1984. The policy must also cover a minimum of $10,000,000 in public liability insurance.
As owners you must insure the contents of the unit and also any liabilities of its residents. For more information on insurance issues click here.
What is covered by the Body Corporate insurance?
For insurance purposes all buildings and service infrastructure is covered for prescribed events at the complex as well as common area public liability. However it is always suggested to contact your insurer if you wish to gain more information on the policy that you have.
What other insurances may Bodies Corporate need?
On top of the legislated building and public liability insurances that a Body Corporate must have many insurance companies also recommend the following covers:
- Office Bearers Liability – This covers members who take on responsibilities on behalf of the corporation as either Office Bearers or Committee members
- Common Contents – This cover is for assets of the Body Corporate that are not covered under the building insurance.
- Machinery Breakdown – This cover is for Bodies Corporate that have items such as elevators, automatic gates, communal laundries, etc.
- Catastrophe Cover – This covers an additional top up to the building insurance in the event of a catastrophe being declared and the additional expenses that this brings.
For more information on any of these additional insurances please contact our insurance department for a quote.
Claims are always made to the insurance company that places the insurance but in the case of Strata Data we have two full time dedicated insurance professionals that will assist in handling all claims for corporations that are managed by us.
How do we know if the Body Corporate is adequately insured?
It is required by the Act that a body Corporate insure buildings and building improvements for the cost of their replacement value as well as factoring in other expenses such as demolition, surveying, architectural and engineering work as well as other associated and incidental costs. It is generally recommended that a professional insurance valuation be sought so that all the above factors can be accurately estimated and that the correct insurance amount be set.
Maintenance [ top ]
- What is general maintenance?
- What does the Body Corporate maintain and what is my responsibility?
- What is the best thing to do if I want to discuss major maintenance issues on the complex?
It is the legislated responsibility for the Body Corporate to maintain the integrity of the building and common areas that are defined by the Strata Plan.
What does the Body Corporate maintain and what is my responsibility?
It is the responsibility of the Body Corporate to maintain the structure of the building and all services to a certain point. It is the responsibility of each owner to carry out repairs to items that wholly or substantially benefit their unit only. Items such as individual circuit boards, hot water services and internal fixtures are generally a unit owner expense.
Each corporation can, by a relevant special or unanimous resolution, change the responsibilities of either party and this agreement must be a part of the records of a General Meeting.
What is the best thing to do if I want to discuss major maintenance issues on the complex?
If you have concerns as to major maintenance it is best to place these items on the agenda for the next general meeting so that they can be discussed and a vote taken as to how to proceed with this issue in the future.
General Items [ top ]
- Do I need approval to change or maintain my unit?
- Can I keep a pet in my unit?
- Where can I park my car and visitors at the complex?
- What should I do if I have a complaint about another resident at the complex?
Do I need approval to change or maintain my unit?
The Act states that a person must not carry out “prescribed work” unless authorised by the Body Corporate to do so. This covers alterations to the outside appearance of the unit as well as the erection, alteration, demolition or removal of a building or structure. Things such as cosmetic non structural improvements to the interior of a unit do not need permissions.
Schedule 3 of the Act does not allow a member to keep an animal in or in the vicinity of a unit. This is however subject to change by application to the Body Corporate and it is best to check the current resolutions as permission may already be granted for the keeping of certain pets and the limitations set on them.
Where can I park my car and visitors at the complex?
Schedule 3 of the Act is quite clear as to the use of common areas and all Strata Plans define areas that are for parking of vehicles at the complex. At no time is a person allowed to park on the common area of the complex unless they have the express permission of the Body Corporate.
What should I do if I have a complaint about another resident at the complex?
Schedule 3 of the Act sets out the basic requirements of residents that live in multi-dwelling units in regards to noise, damage, interference and other basic living expectations. However if there are complaints as to the behavior of another resident it is suggested in the first instance to ask them to stop the anti social behavior. If this does not work then the Body Corporate will need to decided what action to take.
If you are managed by a professional Body Corporate Manager they can often act as an independent mediator between the parties and this will often result in an amicable outcome to most situations.
Budgets [ top ]
- Do we need to have a budget?
- How are my payments worked out and why do I pay more/less than other owners?
- Should our budget allow for a surplus and if so how much and why?
- Who sets our budget?
Although not legislated for a budget is an excellent tool to use to calculate expenditure based on the previous year’s expenses and any other costs that the Body Corporate is likely to expend. A professional Body Corporate Manager will, as a matter of course, produce a budget that sets out anticipated expenditure along with a payment schedule for the owners to pay their levies.
How are my payments worked out and why do I pay more/less than other owners?
The proportion of expenditure that each unit owner pays is principally worked out by each units individual unit entitlement value (UEV) which is calculated at the inception of the Body Corporate. This UEV amount takes in to account groups of units that have different size areas and, for example a one bedroom unit at a complex would have a lower UEV than a three bedroom unit as the larger unit would have greater need of the corporations resources in areas such as maintenance and insurance and would therefore need to contribute more to the funds.
Should our budget allow for a surplus and if so how much and why?
A Body Corporate should always show a positive increase in its funds each year so that major works such as painting, cold water service replacement, major works and unbudgeted repairs can be paid from the existing funds rather than by a special levy. It is recommended that corporations look at anticipated expenditure over a five or ten year period and set a budget accordingly.
This system of saving for future expenses is seen as an equitable method as it seems only fair that a person who owns a unit for ten years should pay ten years worth of maintenance on the unit regardless of whether they are still an owner at the time the repairs are undertaken.
If your corporation is professionally managed then in general the Body Corporate Manager will set the budget for your corporation and if you are in a self managed group it is usually the responsibility of the elected treasurer to undertake this task. Budgets are then discussed at the Annual General Meeting and a majority of the owners will finally decide on the levied amounts to be set for the coming year.
Officers / Committee Members [ top ]
- What is an Officer of the Corporation?
- Do we need to have Officers?
- Do we need a management committee?
- How do we organise a management committee?
- What decisions can a management committee make?
What is an Officer of the Corporation?
A Strata corporation must have the following officers:
- A presiding Officer
- A secretary
- A treasurer
Any two or more of the above offices may be held simultaneously by the same person and may not remain vacant for more than six months.
Yes it is legislated that each corporation have the correct officers and they must be unit owners of the corporation (If the Strata is a non-residential premises then the officers can be selected from non unit owners).
Do we need a management committee?
Although a management committee is not legislated for it is seen as a professional way of handling the affairs of the Body Corporate between general meetings and also fast tracks decisions that need to be made in regards to general maintenance, repairs and the basic administration of the Strata.
How do we organise a management committee?
A committee of unit owners can be appointed by normal resolution at a general meeting and like the officers of the corporation will stand until the next meeting. It is best to choose members that are willing to meet and discuss issues in relation to the corporation and they must keep minutes of their meetings and the decisions that are made.
What decisions can a management committee make?
The Act empowers the management committee to transact any business of the corporation that requires an ordinary resolution. Decisions requiring special or unanimous resolution are not able to be made by the committee unless they have been expressly given that power at a general meeting.
Body Corporate Manager [ top ]
- What does a Body Corporate Manager do?
- Do we have to have a professional Body Corporate Manager?
- What should we look for when selecting a Body Corporate Manager?
- Is there a difference between Body Corporate Managers?
What does a Body Corporate Manager do?
As you can see from the selection of FAQ’s above a Body Corporate has an enormous responsibility in the way in which it works, transacts, contracts and makes it decisions. A professional Body Corporate Manager will assist and guide Bodies Corporate through the minefield of legislation and Acts that govern the day to day running of a successful Strata corporation.
Do we have to have a professional Body Corporate Manager?
Currently there is no legislation to state that a Body Corporate has to be professionally managed. However it is most likely that the services of a professional Body Corporate Manager are necessary to maintain and increase the value of the largest asset you will ever own, ensuring that all legislated requirements are met and to protect you from making uninformed and perhaps costly decisions.
What should we look for when selecting a Body Corporate Manager?
When selecting a Body Corporate Manager price should not be the determining factor as the services and experience offered by some varies greatly.
When choosing a professional Body Corporate Manager you should be sure they are a reputable firm that has been in the industry for some time. They should be able to provide a free quotation which outlines the services and experience that they have along with any additional services that set them apart from other managers.
Is there a difference between Body Corporate Managers?
In any service industry there are always differences in the providers and it is important that the service provider you choose matches the needs of your corporation. At Strata Data since 1977 we have offered a professional and ethical choice in Body Corporate management. We have a staff of nearly 50 employees of which 14 are fully trained Body Corporate Managers who are dedicated to serving their client needs and expectations. All our managers are members of the national (NCTI) and state (CTISA) governing bodies and use this along with extensive in house training to deliver services that are second to none.
Strata Invoices and Payments [ top ]
- How are the administration levy and sinking fund levy amounts determined for my unit?
- What are the payment due dates for my invoices?
- Where are corporation funds held?
- Refunds
- Overpayments
How are the administration levy and sinking fund levy amounts determined for my unit?
The Administration and Sinking Fund levies are determined at the Annual General Meeting and noted in the minutes of the meeting. A budget of expected corporation expenses is considered when setting the levy amounts for the next financial year.
What are the payment due dates for my invoices?
Administration and sinking fund levies
Most corporations are invoiced quarterly in advance. Invoices are distributed two weeks before the payment due date. The table below details the payment due dates.
Payment Due Date Levy for Period
1 January January to March
1 April April to June
1 July July to September
1 October October to December
Special levies
Sometimes a corporation will need to raise a special levy to cover expenses or unbudgeted works. A special levy is in addition to the administration or sinking fund levy. The payment due date will vary. A special levy will have many different names. Some examples are Funds Shortfall Levy, Fencing Levy and Roof Repairs Levy.
Where are corporation funds held?
All corporation funds, including levy payments, are held in a trust account that is administered by Strata Data according to the requirements of The Strata Titles Act 1988.
The name of the trust account is Terrance J Smith Trading as Strata Data Clients Trust Account.
The ABN is 54 786 089 980.
Levy payments will not be refunded unless a client account is in credit (see below).
If a client account is in credit (occurs when a client has paid more than the amount outstanding), the credit amount will remain on the client account to be used towards future invoices.
If a client prefers, Strata Data will gladly arrange a refund of the credit amount to the client.
To request a refund please contact the accounts department on:
Email accounts@stratadata.com.au
Phone (08) 8372 2777
2. Community Titles [ top ]
General Meetings [ top ]
- How often do we have to have an Annual General Meeting?
- Who can call an Annual or Extraordinary General Meeting?
- What constitutes a quorum at a meeting?
- Who can vote at a meeting?
- What issues can be voted on at a meeting?
- Who can chair a meeting?
How often do we have to have an Annual General Meeting?
It is prescribed under the legislation that the corporation must hold a general meeting of the corporation within three months after the commencement of each of the corporation’s financial year.
Who can call an Annual or Extraordinary General Meeting?
A community corporation can hold a meeting of its members at any time and this meeting can be convened by either the presiding officer, secretary or treasurer of the corporation, any two members of the management committee (should the corporation have one) or by members whose combined lot entitlements is 20 percent or more of the aggregate of the total amount of lots.
What constitutes a quorum at a meeting?
A quorum (minimum number of members needed to hold a legal meeting) for a General Meeting is determined by dividing the number of persons entitled to attend the meeting by two and disregarding any fraction add one who is present either in person or by proxy within 30 minutes of the appointed meeting time. For example in a group of ten lots the quorum would need to be six.
Who can vote at a meeting?
All registered members (lot owners) may exercise one vote for each lot that they own. A member may also give their vote to a proxy to either vote as directed by them on a matter or as they wish at the meeting.
In the case of a lot being owned by more than one person the owners collectively are only entitled to one vote per lot.
What issues can be voted on at a meeting?
A general meeting of the Body Corporate is called to ensure that the corporation carries out the functions that are legislated for such as to administer and maintain common areas and all other property of the corporation.
An agenda outlining items to be discussed should be sent no later than 14 day’s prior to the meeting so that members unable to attend can direct their proxy on how to vote on certain items.
Who can chair a meeting?
It is the responsibility of the Presiding Officer to chair any general meeting of the Body Corporate but in their absence a person present may be appointed to chair the meeting.
The chairperson may also gain assistance in chairing a meeting and in the majority of cases a professional Body Corporate Manager will assist to ensure that all legislated requirements are met.
Finances [ top ]
- What is a financial statement?
- What is an administration fund and what is it for?
- What is a sinking fund and what is it for?
What is a financial statement?
A financial statement is a proper accounting document that records all receipts and expenditure of the corporation in respect to each accounting period. This document must be presented at every Annual General Meeting and passed as accurate by members.
What is an administration fund and what is it for?
The administration fund of the corporation is set to cover all expenses that the corporation will likely expend in the normal day to day running of the Body Corporate. Items such as general maintenance, insurance, administration, bank fees and audit fees of the common area are paid from this account.
What is a sinking fund and what is it for?
A sinking (or accrual) fund is legislated for to cover major upcoming expenses of the corporation. Items such as painting, major repairs, refurbishments and substantial upgrades or improvements to common property are items that sinking funds are generally set for.
Insurance [ top ]
- What does the Body Corporate Cover and what should I insure?
- What is covered by the Body Corporate insurance?
- What other insurances may Bodies Corporate need?
- How do I make a claim?
- How do we know if the Body Corporate is adequately insured?
What does the Body Corporate Cover and what should I insure?
The Body Corporate must keep all buildings and building improvements on the common property insured to their full replacement value. The policy must also cover a minimum of $10,000,000 in public liability insurance. As owners you must insure your lot and any buildings or building improvements for their full replacement value and also any liabilities of its residents.
However in some community corporations the corporation can decide to insure as a group and this is normally laid out in detail in the corporations by-laws or resolutions. For more information on insurance issues click here.
What is covered by the Body Corporate insurance?
For insurance purposes all buildings and service infrastructure on the common property is covered for prescribed events at the complex as well as common area public liability. However it is always suggested to contact your insurer if you wish to gain more information on the policy that you have.
What other insurances may Bodies Corporate need?
On top of the legislated building and public liability insurances that a Body Corporate must have many insurance companies also recommend the following covers:
- Office Bearers Liability – this covers members that take on responsibilities on behalf of the corporation as either Office Bearers or Committee members
- Machinery Breakdown – this cover is for Bodies Corporate that have items such as elevators, automatic gates, communal laundries, etc.
- Catastrophe Cover – this covers an additional top up to the building insurance in the event of a catastrophe being called and the additional expenses that this brings.
For more information on any of these additional insurances please contact our insurance department for a Quote.
How do I make a claim?
Claims are always made to the insurance company that places the insurance but in the case of Strata Data we have two full time dedicated insurance professionals that will assist in handling all claims for corporations that are managed by us.
How do we know if the Body Corporate is adequately insured?
It is required by the Act that a body Corporate insure buildings and building improvements on the common area for the cost of their replacement value as well as factoring in other expenses such as demolition, surveying, architectural and engineering work as well as other associated and incidental costs. It is generally recommended that a professional insurance valuation be sought so that all the above factors can be accurately estimated and that the correct insurance amount be set.
Maintenance [ top ]
- What is general maintenance?
- What does the Body Corporate maintain and what is my responsibility?
- What is the best thing to do if I want to discuss major maintenance issues on the common area?
It is the legislated responsibility for the Body Corporate to maintain the integrity of the common areas that are defined by the community plan.
What does the Body Corporate maintain and what is my responsibility?
It is the responsibility of the Body Corporate to maintain the common areas and all services to a certain point. It is the responsibility of each owner to carry out all repairs to items that are within their lot area and subsidiaries.
What is the best thing to do if I want to discuss major maintenance issues on the common area?
If you have concerns as to major maintenance work on the common area it is best to place these items on the agenda for the next general meeting so that they can be discussed and a vote taken as to how to proceed with this issue in the future.
General Items [ top ]
- Do I need approval to change or maintain my unit?
- Can I keep a pet in my unit?
- Where can I park my car and visitors at the complex?
- What should I do if I have a complaint about another resident at the complex?
Do I need approval to change or maintain my unit?
The Act states that a person must not carry out “prescribed work” unless authorised by the Body Corporate to do so. This covers alterations to the outside appearance of the lot as well as the erection, alteration, demolition or removal of a building or structure. Things such as cosmetic non structural improvements to the interior of a lot do not need permissions. The by-laws of your corporation may also have requirements in regards to this matter.
Although animals are not discussed in the Act it is advised in general that the by-laws cover the type of restrictions lot owners are under in regards to the keeping of animals at the corporation. This is however subject to each individual set of by-laws and it is best to check the current by-laws of your community for the limitations that are placed on your corporation.
Where can I park my car and visitors at the complex?
The Act is quite clear in its interpretation as to the use of common areas and once again it is up to the individual by-laws of the corporation to set out the use and enjoyment of all common areas at the corporation.
At no time is a person allowed to park on the common area of the community unless they have the express permission of the Body Corporate.
What should I do if I have a complaint about another resident at the complex?
The individual by-laws of your corporation should set out the basic requirements of residents that live in multi-dwelling lots in regards to noise, damage, interference and other basic living expectations. However if there are complaints as to the behavior of another resident it is suggested in the first instance to ask them to stop the anti social behavior. If this does not work then the Body Corporate will need to decide what action to take.
If you are managed by a professional Body Corporate Manager they can often act as an independent mediator between the parties and this will often result in an amicable outcome to most situations.
Budgets [ top ]
- Do we need to have a budget?
- How are my payments worked out and why do I pay more/less than other owners?
- Should our budget allow for a surplus and if so how much and why?
- Who sets our budget?
An estimate of expenditure is legislated for under the Act and is an excellent tool to use to calculate expenditure based on the previous year’s expenses and any other costs that the Body Corporate is likely to expend.
A professional Body Corporate Manager will, as a matter of course, produce a budget that sets out anticipated expenditure along with a payment schedule for the owners to pay their levies.
How are my payments worked out and why do I pay more/less than other owners?
The proportion of expenditure that each lot owner pays is principally worked out by each lots individual entitlement value (EV) which is calculated at the inception of the Body Corporate. This EV amount takes in to account groups of lots that have different size areas and, for example a one bedroom lot at a complex would have a lower EV than a three bedroom lot as the larger lot would have greater need of the corporations resources in areas such as maintenance and insurance of the common area and would therefore need to contribute more to the funds.
Should our budget allow for a surplus and if so how much and why?
A Body Corporate should always show a positive increase in its funds each year so that major works such as common cold water service replacement, major works and unbudgeted repairs to the common areas can be paid from the existing funds rather than by a special levy. It is recommended that corporations look at anticipated expenditure over a five or ten year period and set a budget accordingly.
This system of saving for future expenses is seen as an equitable method as it seems only fair that a person who owns a lot for ten years should pay ten years worth of maintenance on the common area regardless of whether they are still an owner at the time the repairs are undertaken.
If your corporation is professionally managed then in general the Body Corporate Manager will set the budget for your corporation and if you are in a self managed group it is usually the responsibility of the elected treasurer to undertake this task. Budgets are then discussed at the Annual General Meeting and a majority of the owners will finally decide on the levied amounts to be set for the coming year.
Officers / Committee Members [ top ]
- What is an Officer of the Corporation?
- Do we need to have Officers?
- Do we need a management committee?
- How do we organise a management committee?
- What decisions can a management committee make?
What is an Officer of the Corporation?
A Strata corporation must have the following officers:
- A presiding Officer
- A secretary
- A treasurer
In the case of a community scheme being 10 lots or less any two or more of the above offices may be held simultaneously by the same person. In the case of the community scheme being 11 lots or more then only two of those offices may be held by one person.
Yes it is legislated requirement that each corporation has the correct officers and they must be lot owners of the corporation (If the community is subject to a leaseback arrangement then the officers can be appointed from non lot owners).
Do we need a management committee?
Although a management committee is not legislated for it is seen as a professional way of handling the affairs of the Body Corporate between general meetings and also fast tracks decisions that need to be made in regards to general maintenance, repairs and the basic administration of the common property.
How do we organise a management committee?
A committee of lot owners can be appointed by normal resolution at a general meeting and like the officers of the corporation will stand until the next meeting. It is best to choose members that are willing to meet and discuss issues in relation to the corporation and they must keep minutes of their meetings and the decisions that are made.
What decisions can a management committee make?
The Act empowers the management committee to transact any business of the corporation that requires an ordinary resolution. Decisions requiring special or unanimous resolution are not able to be made by the committee unless they have been expressly given that power at a general meeting.
Body Corporate Manager [ top ]
- What does a Body Corporate Manager do?
- Do we have to have a professional Body Corporate Manager?
- What should we look for when selecting a Body Corporate Manager?
- Is there a difference between Body Corporate Managers?
What does a Body Corporate Manager do?
As you can see from the selection of FAQ’s above a Body Corporate has an enormous responsibility in the way in which it works, transacts, contracts and makes it decisions. A professional Body Corporate Manager will assist and guide Bodies Corporate through the minefield of legislation and Acts that govern the day to day running of a successful Strata corporation.
Do we have to have a professional Body Corporate Manager?
Currently there is no legislation to state that a Body Corporate has to be professionally managed. However it is most likely that the services of a professional Body Corporate Manager are necessary to maintain and increase the value of the largest asset you will ever own, ensuring that all legislated requirements are met and to protect you from making uninformed and perhaps costly decisions.
What should we look for when selecting a Body Corporate Manager?
When selecting a Body Corporate Manager price should not be the determining factor as the services and experience offered by some varies greatly. When choosing a professional Body Corporate Manager you should be sure they are a reputable firm that has been in the industry for some time.
They should be able to provide a free quotation which outlines the services and experience that they have along with any additional services that set them apart from other managers.
Is there a difference between Body Corporate Managers?
In any service industry there are always differences in the providers and it is important that the service provider you choose matches the needs of your corporation. At Strata Data since 1977 we have offered a professional and ethical choice in Body Corporate management. We have a staff of nearly 50 employees of which 14 are fully trained Body Corporate Managers who are dedicated to serving their client needs and expectations.
All our managers are members of the national (NCTI) and state (CTISA) governing bodies and use this along with extensive in house training to deliver services that are second to none.
3. Property Management [ top ]
Renting Out Your Property [ top ]
- How long will it take to rent out my property?
- How does your company qualify the tenants that it proposes for my property?
How long will it take to rent out my property?
Strata Data Realty will commence marketing your property as soon as it is ready, or as soon as the current tenants give 21 days notice of their intention to vacate the property. Efficient and effective marketing by our team, leads to an average time of approximately 14 days to lease your property (this timeframe does depend on the current rental market conditions).
Your property’s description and photograph is immediately placed on the website at www.realestate.com.au and www.stratadata.com to achieve maximum exposure. We also place an advertisement in “The Advertiser” to enable us to reach potential tenants that do not have regular access to the Internet.
However, it stands to reason that the better the standard of presentation of the property, the quicker it will be rented.
You never get a second chance to make a first impression and cleanliness is probably the most important consideration in the whole rental process. It is therefore a good idea to organise for the property to be professionally cleaned each time it becomes vacant. The Residential Tenancies Act only specifies that the property be left in a ‘reasonably clean’ state at the end of a tenancy. This is not always attractive to prospective tenants. Cleaning the property professionally will reduce the time that your property remains vacant.
How does your company qualify the tenants that it proposes for my property?
At Strata Data Realty, we strive to help you find the very best calibre of tenant for your property.
To facilitate this, all potential tenants for your property will pass through the National Tenancy Database. There are over 700,000 tenants registered and only registered Real Estate agencies such as Strata Data Realty have access to it.
If the potential tenant has been registered on the National Tenancy Database, this search will advise us if they have any outstanding rental debts, any judgements at the Residential Tenancy Tribunal against them. The database will also advise if another agency has listed them as a ‘recommended’ tenant.
Employment references (both past and current) are checked very thoroughly to ensure that the tenant is capable of meeting the rental payment by the due date. We apply the principle that the tenant should have a take home pay equivalent to three times their weekly rent; otherwise, there is a possibility that they will get into financial difficulty.
We also take into account their length of employment, which often reflects stability within the tenant’s lifestyle.
The tenant’s previous rental references are also checked to ensure they have a proven track record of being good tenants including paying rent in a timely manner and maintaining the property to satisfactory standard.
Managing Your Property [ top ]
- What happens if the tenant doesn’t pay his rent?
- How do you conduct inspections on the property?
- Do you guarantee the tenants you put in my property?
What happens if the tenant doesn’t pay his or her rent?
If a tenant fails to pay their rent, we follow the procedures that are stated in the Residential Tenancies Act.
- A tenant is served with a notice for demand of rent and if that demand is not met, we apply to the Tribunal to have the tenant evicted on the basis of breaching their Residential Tenancy Agreement.
- If your tenant does not pay rent on the due date, the very next day their name will appear on the arrears list.
- On the third day after the due date the Property Manager will call the tenant and diarise the result.
- On the 5th day a letter is sent to the tenant.
- On the 8th day the tenant is called again and again the call is diarised and a second letter is sent. A Form 2 is also issued to the tenant demanding payment to be made in 7 days or otherwise to vacate the premises.
- On the 9th day the tenant is called again.
- On the 10th day a final letter of demand is sent to the tenant.
- On 15th day an application is made to the Residential Tenancies Tribunal for outstanding rent and possession of the property. The tenant still has time to pay the rent before the Tribunal Hearing, but it’s important that this procedure is followed to ensure that you do not suffer any unnecessary financial loss.
How do you conduct inspections on the property?
Strata Data Realty inspects all residential rental properties every three months. Tenants are advised of this procedure prior to signing the Tenancy Agreement. At every inspection, we complete a detailed report of the condition of the property and include comments of the tenant’s cleanliness and how they maintain the property. We also record any maintenance and/or other issues that may arise in the future. A copy of this report along with a letter of any of our recommendations will be sent to you after every inspection for your perusal.
Do you guarantee the tenants you put in my property?
No, we don’t guarantee your tenant. However, we DO guarantee that we will make every effort to select the best possible tenant for your property.
As registered members of the National Tenancy Database, we will also undertake a search to ensure that your prospective tenant does not have any outstanding warrants, judgements or rental debts against him.
Our highest priority is processing tenant application forms to ensure that only the best possible tenants make it through to being considered as the possible tenant. We ensure that the tenant is able to pay their rent and will not get into financial difficulty.
We offer a variety of payment choices, such as direct debit and B-Pay, which allows the tenant to have convenient options of making rental payments.
Ultimately, we do not choose the tenant. The landlord does this with as much guidance as possible from our professional and skilled Property Manager.
Selecting An Agent & Charges [ top ]
- Other real estate companies don’t charge as much as your company, why should I choose you?
- Wouldn’t it be cheaper for me to manage the property myself?
- Why should we choose Strata Data Realty to manage our property?
Other real estate companies don’t charge as much as your company, why should I choose you?
Strata Data Realty provides the best possible service and value for money.
If we were to lower fees it would mean trying to cut corners, which would lead to an ineffective and inefficient property management service. However, though our fees are competitive they are certainly not the most expensive.
Our Property Management Division staff are highly skilled and trained. We also provide an after hours emergency service available 24/7.
All in all, we charge a fair fee for a tremendous service!
Wouldn’t it be cheaper for me to manage the property myself?
Of course it would be cheaper. However, this is only if the tenancy goes a full term without ever experiencing a problem – this is highly unlikely. If you are not properly trained or equipped to deal with tenancy discrepancies, the option to self manage may end up costing you significantly more! We are here to relieve you of the stress and headaches that tenancies can cause.
Why should we choose Strata Data Realty to manage our property?
Strata Data Realty provides a broad range of services that other agencies cannot. Being part of the Strata Data Group, we have internal access to the other Strata Data services such as Insurance, Maintenance and Body Corporate Management. This enables us to provide a much more efficient and effective service to our clients.
Our number one priority above everything else is our clients. At Strata Data Realty we pride ourselves on our outstanding client service and our ability to communicate with clients, one-on-one.
We strive to obtain the best possible rental price and tenant for your property. Once we have achieved that for you, we maintain and look after both your tenant and your property 24/7 to ensure that the tenancy runs smoothly.
Our general inspections are conducted quarterly ensuring the property is proactively maintained.
Our daily rental arrears monitors client payments and provides for a timely response, should rent be late.
If a successful and headache-free tenancy is what you want, then the question should be ‘Why wouldn’t you choose Strata Data Realty?’
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4. Developers [ top ]
General Information [ top ]
- When should I first look at consulting a Body Corporate Manager?
- How much will it cost?
- Why should I choose Strata Data?
When should I first look at consulting a Body Corporate Manager?
At Strata Data we feel that the earlier you contact us the better even if your development is relatively small and you are confident that you are aware of all the issues. We suggest an initial meeting with our Business Development Department (email Brett Earle) to review your project and then further meetings or correspondence as the development progresses. With the larger developments it can be extremely valuable to utilise the experience of the Business Development Department when looking at how your project is structured and how the layout and by-laws of the project can impact on the pre-sales of the lots.
Your Business Development Manager can also assist in the preliminary stages by producing a client sales pack that includes essential information such as proposed budgets, community living information and the benefits that buying into your project will have for the client over other developments that they may be looking to buy into.
We do not charge developers any fees for the initial consult and the preparation of the initial budgets and associated documentation. However if you use all the services offered by the Business Development Manager such as our tailor made by-laws, client information packs and other development specific documentation a charge may be levied. If Strata Data is appointed either as set out in the by-laws, per our pre-management agreement or at the Inaugural General Meeting then these charges may be waived.
Why should I choose Strata Data?
By choosing Strata Data as your Body Corporate development partner you are using one of the most professional and respected Body Corporate Management companies in Australia. Since 1977 Mr. Terry Smith has steered Strata Data from a small specialised Body Corporate Management company to the largest solely owned Body Corporate specialist in Australia.
With a staff of nearly 50 employees of which 14 are professionally trained State and Nationally recognised Body Corporate Managers Strata Data can offer the service and support that will ensure the success of your project.
Development Stages [ top ]
- What is the sequence of events from start to finish when developing a Community Title?
- What should I do in regards to the body corporate during the planning phase?
- What should I do in regards to the body corporate during the tender phase?
- What should I do in regards to the body corporate during the construction phase?
- What should I do in regards to the body corporate during the completion phase?
What Is The sequence of events from start to finish when developing a Community Title?
After considerable consultation with local and state development bodies the following simplistic sequence of events would be typical in the total construction cycle of a project:
- Initial feasibility stage where a basic sketch of ideas and first contact with the relevant council to discuss merits of the project and planning requirements
- Preparation of a development plan which is a statutory document that describes the way the land will be developed on each area, the type of development preferred and the standards that will be used. The development plan will normally be accompanied by the architectural drawings and basic community plans.
- Application for development approval will be sought at this stage and must include an application form, plan of land division, application fees, copies of certificates of title and any supporting documentation.
- Appoint surveyor to prepare plans of division and also relevant documents such as by-laws outlining the usage and restrictions placed on the development as outlined in the Community Titles Act 1996. It may also help to liaise with your Body Corporate Business Development Manager at this stage.
- Development approval granted
- Appoint a builder to construct the complex or nominate as a developer builder with the relevant council.
- Lodgment of building approval at council (this is done by the builder if one has been appointed for the project)
- Preparation of contract and associated documentation for off plan sales
- Operational work commences at the site
- Work begins on the building of the project as approved and set out in the scheme description.
- The project is completed to a stage where the council, surveyor and developer meet to ensure completion and that the development complies to the scheme description and all relevant approvals.
- Settlements begin to take place on pre-sales and new clients
- The developer with the assistance of the Body Corporate Manager calls the inaugural general meeting as set out under the Act.
- The developer hands over all documentation as prescribed and works together with the Body Corporate Manager and the clients to effect a smooth and hassle free handover of the project to the Body Corporate.
More detailed information can be gained by checking the South Australian governments planning website (www.planning.sa.gov.au) and from the council in which the development will be erected.
What should I do in regards to the body corporate during the planning phase?
During this initial period you should consult with your Business Development Manager and discuss the layout of the project and how it will be utilised and also produce a draft set of by-laws specific to the needs and uses of the project.
What should I do in regards to the body corporate during the tender phase?
You should look at the impacts of the contracts you will enter into with companies in areas such as Pay TV, elevators. maintenance, fire safety, etc. You should also produce a budget on proposed annual expenditure and the quarterly levy amounts that each lot owner will be required to contribute.
What should I do in regards to the body corporate during the construction phase?
Ensure that all responsibilities as determined under the Community Titles Act 1996 are adhered to and that all documentation and final budgets are prepared for presentation at the inaugural meeting. At this phase you must also make sure that once settlements have started that a meeting is called and that an agenda is sent outlining all matters that must be discussed.
What should I do in regards to the body corporate during the completion phase?
At this phase you must hand over all relevant documents and contracts to the Body Corporate so that the corporation is able to manage their own affairs immediately after the inaugural meeting.
Insurance Matters [ top ]
- What does the Body Corporate Cover and what should I insure?
- What is my responsibility to pay?
- How do I change from a Builders Policy to a Body Corporate Policy?
- Who arranges the Insurance?
What does the Body Corporate Cover and what should I insure?
During the construction phase the responsibility to insure the site would be covered under the builders insurance and you should consult your broker as to the type of cover that you would require.
What is my responsibility to pay?
Once the development has completed construction it is the developer’s responsibility to ensure that all the buildings on the site are insured as per the by-law regulations. New owners will be responsible for insurance once settlement has occurred.
How do I change from a Builders Policy to a Body Corporate Policy?
You should consult your Business Development Manager on the timing of this to ensure that you have the correct cover on your project at all times.
You can use your own broker or Strata Data can help you find the insurance cover that is right for your project.
Other Issues [ top ]
- What do I need to consider in relation to water and electricity issues?
- Have I allowed access to all metered areas to the relevant residents?
- Have I supplied enough documentation to the Body Corporate Manager?
What do I need to consider in relation to water and electricity issues?
During the planning stage it is always advisable to think about how you are going to divide the water usage between the lots and if there is a need for individual meters. In the case of electricity it is also advisable to think about access and the need for one or more common meters to power community lighting, elevators, gates, etc.
Have I allowed access to all metered areas to the relevant residents?
It is important that each lot owner can access their individual isolation valves and meters at the complex. At Strata Data we have seen all too often the impact that placing common and individual meters in subsidiary areas has on the owners of Bodies Corporate. We advise that you consult with your Business Development manager prior to locating meters and isolation valves as our experience will often save you and your clients from future problems.
Have I supplied enough documentation to the Body Corporate Manager?
Strata Data firmly believes that you can not supply too much information to the Body Corporate at hand over. Your Business Development Manager will asses with you what information you can supply so the initial transition and future dealings with the Body Corporate are done in a professional and timely fashion.
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