Take the Self Test
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
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.
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
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.
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
Your Final Score
As a Percentage