How sound are your Body Corporate management practices?

Take Our Self Test to Assess Your Body Corporate

We have developed a simple points based test to help you assess key performance indicators of your body corporate. Built on over 10 years of strata management and related systems development experience, this test will help you identify issues in transparency, efficiency and technology enablement of your Body Corporate's management practices.

Simply select 'Yes' or 'No' for each of the following questions. Under each question you will find the points allocated and your score. Click on to see further information on the scope of the question. You will find the final score at the end of the questions.

Body Corporate Self Test

Do you have at least read only access to your Body Corporate bank account?
| Points: 30 | Your score: 0

There have been incidents of money being misappropriated by managing companies. One way to protect your funds from such activities is to establish real time access to your Body Corporate bank accounts.

Can you access the bank statements any time?
| Points: 20 | Your score: 0

If you are unable to directly access your accounts, you should at minimum have access to your bank statements any time, increasing your visibility into the fund management of your Body Corporate. This also helps in the early detection of misappropriation of funds.

Do you have access to information on what your levy constitute of and how your contribution is calculated?
| Points: 20 | Your score: 0

As an owner you must understand how your levy is calculated and where every penny you pay goes to. At minimum this information should be available to you on request if not real time. If you are kept in the dark then it is a cause for concern.

Can you get a response from your Manager within 4 hours?
| Points: 15 | Your score: 0

In most cases managers are trying their best to serve all their clients equally. Lack of responsiveness is a sign that your manager is overloaded and doesn’t have the support he needs to provide a better service.

Are you able to see more than one strata insurance quotation for your property?
| Points: 15 | Your score: 0

Insurance is usually the largest component of your levy and management companies receive a commission on your insurance premium. Hence it is very important that you take more than one independent quotation to compare prices.

Do you know exactly how much you are paying as the management fees?
| Points: 10 | Your score: 0

It is important to know how your fees compare with the current industry prices. Industry average is currently around $280 per lot per year. Most management companies charge various hidden fees on top and keep increasing their fees annually or at each contract renewal. We currently charge $180 per lot per year.

Do you know how much disbursement fees you pay per lot?
| Points: 10 | Your score: 0

Disbursement fees are usually added on top of the management fees you pay per lot per annum and not well explained in many instances. It is very important to get a break down of all the fees you pay for the management company.

Is there a clear process defined to change your Strata Manager if he/she is not performing well?
| Points: 15 | Your score: 0

Many Body Corporates are not aware of the process to change the current strata manager and most management companies do not offer this option. Further, proving that your manager is not performing well, without a clearly defined KPI (key performance indicators) system is a cumbersome task. The only option available for many owners is to change the management company itself, which usually is a tedious process not well supported by the incumbent management company

Are you informed of or do you have a means to check whether your building is currently insured?
| Points: 20 | Your score: 0

Having an ongoing strata insurance is a must for ensuring the value of your property investment. Due to various factors, such as managers not well supported with IT systems that remind them and ensure insurance payments are up to date, insurance payments can be missed and your property might be under risk.

Do you know whether your insurance has fidelity guarantee?
| Points: 15 | Your score: 0

A fidelity insurance (or guarantee) provides cover for fraudulent fund losses associated with a strata property. For example, suppose the strata manager or a person within the body corporate were to embezzle or misappropriate funds, fidelity insurance will cover your loses.

Does your manager get more than one quotation from suppliers to ensure the best price and quality?
| Points: 10 | Your score: 0

Ensuring that your manager gets multiple quotations for work required at your property is a good wayt to make sure you are not wasting your fund money. Most managers are not well supported with supplier management (e.g. IT systems that sends quotations and work orders) and tend to take short cuts to save time

Do you have access to an Online Portal listing body corporate daily fund balance, management company contact details, mobile-friendly incident reporting system, collection of bank statements, status of your levy payments, digital copies of all communications sent to you etc?
| Points: 20 | Your score: 0

Given the investment you have made and the life style you have chosen living in a strata property, you should have access to all your property related information at your finger tips any time and not wait for an AGM to see summary information.

Your Final Score


Your Score


As a Percentage

Target Score

If you scored less than 180 then it is a cause for concern. There are areas you can improve to become a well managed body corporate.
At Beyond Strata we can help you improve on all of the above areas. With us, you have complete transparency of your funds, access to responsive managers and pay the optimum levy amount.
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We can help you switch

We are happy to show you how our awesome platform and qualified managers can help you. Alternatively, ring us on 03 8595 4364 to talk to a member of our friendly team.