We’ll share with you five important tips to keep in mind when appointing a new Body Corporate Manager.
Body corporate management is sadly an unregulated industry. Anyone, without any prior experience or qualifications, can set up a business offering body corporate management services to the public. Your Body Corporate Manager must carry a significant level of responsibility and a duty of care to the body corporate, so it pays to do your homework before signing into a service contract.
Our five tips to consider
1. Tender Out
Always seek comparable tenders. Compare; services, practical experience, contractual terms and pricing.
Meet with the prospective new Body Corporate Manager. Ask about their management style, knowledge, practical experience and consider how they will be a good fit for you.
3. Reference Check
Ask for several references and research the company. Bear in mind that the body corporate is contracted to the body corporate management company and succession is something to consider or negotiate within the contract. No matter how good the Account Manager assigned to look after your property is, if they leave or get promoted, your committee needs to be confident with management company’s service.
4. Understand the Contractual Terms
Ensure your committee understands the terms of the proposed contract. This sets up the relationship between the body corporate and the Body Corporate Manager and will be the first point of reference when clarity is needed.
Some important clauses to consider;
- Initial length of term, renewal & notice prior to renewal
- Fee payments and increases
- Services included / services attracting additional fees
- Matters that constitute a breach of contract
- Ending the contract (termination)
5. Consider Price Last
The adage of “you get what you pay for” can often ring true. Service contracts differ considerably, and it pays to look closely at what services are included in the body corporate administration fee, but more importantly, what is not included. This is where a body corporate can often get caught off guard.
Appointing the right Body Corporate Manager
The Body Corporate Chairperson and its committee will benefit greatly from the assistance of a skilled body corporate administration company with whom they can establish a good working relationship. The quality and professionalism can vary greatly, so it pays to spend a little time researching your options before committing to a contract.
If you are considering appointing a Body Corporate Manager, having doubts with your current one or are simply curious to find out more,
Talk to Everything Body Corporate for a no obligation chat.