Body corporate management is the administration and management of common property and assets in multi-unit residential, commercial or industrial developments, such as apartment buildings, townhouse complexes, and office parks. This includes the management of financial, administrative, and maintenance responsibilities for the property.
A body corporate, also known as an owners corporation, is a legal entity that is established when a multi-unit development is created. The body corporate management services are responsible for the management and maintenance of the common property, such as hallways, elevators, parking areas, and any other shared facilities. The body corporate is also responsible for ensuring that all owners comply with the rules and bylaws of the development.The management of a body corporate is typically carried out by a committee of owners, who are elected at an annual general meeting. The committee is responsible for making decisions on behalf of the owner’s corporation and is accountable to the owners. The committee is also responsible for appointing a body corporate manager or strata manager to handle the day-to-day management of the property.
A body corporate manager or strata manager is a professional who is trained and experienced in the management of multi-unit developments. They handle the administrative, financial and maintenance responsibilities of the body corporate, such as collecting levies, managing budgets, arranging repairs and maintenance, and enforcing bylaws. They also provide advice and support to the committee and owners.The financial management of a body corporate is an important aspect of overall management. The body corporate manager or strata manager is responsible for collecting levies from owners, managing budgets and ensuring that there are sufficient funds to cover the costs of maintaining and repairing the common property. They also handle the financial aspects of any capital works projects, such as major renovations or new developments.
Maintenance and repairs of the common property is also an important aspect of body corporate management. The body corporate manager or strata manager is responsible for arranging for regular maintenance, such as cleaning and gardening, and for arranging for repairs and renovations as needed. They also handle any emergency repairs that may be required.Enforcing bylaws is also an important aspect of body corporate management. Bylaws are rules that are established to govern the use of the common property and the behaviour of owners. The body corporate manager or strata manager is responsible for ensuring that all owners comply with the bylaws and for enforcing them if necessary.
In conclusion, body corporate management is the administration and management of common property and assets in multi-unit developments. It includes the management of financial, administrative and maintenance responsibilities, and ensuring that all owners comply with the rules and bylaws of the development. It is typically carried out by a committee of owners, who are elected at an annual general meeting, and a professional body corporate manager or strata manager who handles the day-to-day management of the property. It is important to ensure that the body corporate is run efficiently and effectively for the benefit of all owners.