We keep abreast of and implement the latest Strata Management technologies and operational processes as they become available enabling our superior systems to respond as quickly as our people and exceed our clients’ needs and expectations. Our extensive support team with its range of skills and knowledge is large enough to serve your scheme and small enough to provide the personalised, high quality service necessary to meet your needs.
Bonded Strata Management constantly works towards its objective of providing such a high-level service that we maintain our reputation as professionals with our clients and industry peers alike guaranteeing our standing as a respected and sought-after strata agency. We place high value in personal attention and communication with our clients as well as attention to accuracy and detail. Our on-site presence will not be restricted to attendance just at the Annual General Meeting as we take all appropriate opportunities to visit the properties we manage.
Professional management of compliance with ByLaws (eg: Parking, Noise, Pets, Renovations, Damage to Common Property) is essential to harmonious strata living and operations. We assist with administration and enforcement of bylaws including:
Advising the Owners Corporation when a solicitor should be retained if the breach warrants it.
Preparation and issuing of notices under Sec. 45 – Notice to Comply with a ByLaw.
Lodgement of applications for mediation and/or orders from Adjudicator or Strata Schemes Board
Attendance at mediations or hearings at the Consumer Trader and Tenancy Tribunal or other Court.
Organise for By-Laws to be amended or new ones drafted and registered, with involvement of a strata-professional solicitor.
Preparation of accounts on a monthly, quarterly, six-monthly and annual frequency.
Maintain individual bank accounts and financial accounts for Owners Corporations which are reconciled on a daily and monthly basis, ensuring both Administrative and Capital Works Funds comply with legislative requirements.
Investment of funds: On instruction by the Owners Corporation we invest amounts from the general account into term deposits to yield a better return. The deposits are then rolled over to for subsequent periods until the money is required for payment of a project or on other instructions from the Owners Corporation.
Approval of invoices: Extraordinary invoices ie not regular repairs, maintenance, cleaners, utilities, etc are referred to the Strata Committee for approval before payment is processed.
Collation of information in preparation of Business Activity Statements (BAS), Instalment Activity Statements (IAS) and Income Tax Returns.
Applications for Australian Business Numbers (ABN) and Tax File Numbers (TFN).
Assistance with Registration for Goods and Services Tax (GST).
Arrears Recovery Management
We regularly monitor and track the status of levies to ensure all arrears are properly managed and recovered. This reduces the likelihood of arrears debts becoming significant and ensures the strata plan’s cash flow is adequate to meet budgeted purposes. We have a 100% success rate in recovering arrears.
In the instance that a lot falls into arrears of levies, either periodic or special, we implement the following recovery method at the expense of the lot owner. The recovery expenses for both strata and legal fees as well as interest are charged to the lot owner’s levy account with the lot owner being informed of this provision as prescribed under Sec.80 of the Strata Schemes Management:
By law nothing can be done to recover levies in the first 30 days after the due date for payment.
A week after the 30 days have lapsed, a reminder notice is issued and the charge for this service is made to the lot owner’s levy account.
Two weeks later, if the debt is still outstanding, a 2nd reminder notice is issued advising that if the debt is not cleared, the matter will be referred to a debt-recovery solicitor.
If, after a further 14 days the funds have not been received we write to our debt-recovery solicitor we use for debt recovery and instruct them to recover the money for the Owners Corporation.
Processes then follow where the debt-recovery solicitor takes prescribed action commencing with a letter of demand explaining to the lot owner what recovery actions are to follow should the debt not be cleared. The action may include service of a Liquidated Statement of Claim, Writs, Garnishees and even bankruptcy if it becomes necessary.
If the property subject to arrears recovery is put on the market for sale, a Sec.109 is prepared and issued by our office to the vendor/purchaser’s solicitor listing the outstanding lot arrears and associated recovery action fees to be settled in the transfer of the property.
The annual general meeting of an Owners Corporation is the most important regular event for your strata scheme as this is the forum where decisions are most often made by owners. Owners are given notice of when general meetings are being held and what is listed for consideration so that they can make informed decisions. Some of the listed items are prescribed at law and must only be considered at general meetings. The proper functioning and administration of meetings and the decisions made at them enhances the optimum operation of your strata scheme. For most strata property owners, the annual general meeting is the one occasion they can participate in the process of resolving business of the Owners Corporation. It is therefore important that the meeting be a successful venture with a constructive outcome. A well run meeting will be more likely to encourage the interest of owners in the affairs of the strata community.
The Bonded Strata Management team has convened and chaired literally thousands of meetings resulting in professionalism and excellence in the administrative aspects and the people-management dynamics of hosting and chairing meetings. Our experience in the detail of preparing meetings, understanding the formal legislative requirements, and good chairperson and communication skills are important contributors to a good meeting. We guide the proceedings of our meetings towards transacting business in a spirit of harmony and we are skilled at ensuring any potential conflict is diffused quickly and professionally. We offer a protective and orderly environment for the proceedings by keeping to meeting protocols, minimising distractions and following the agenda to a productive finish.
Meetings can be held at the strata scheme property, in our meeting rooms or another suitable venue.
A key feature of lot ownership in the operation of strata schemes is exercising the right to vote on decisions. Each lot has either one equal vote on ordinary decisions, or the vote is according to unit entitlement if a poll is called or if a special resolution is being passed.
When a lot owner cannot attend meetings, they have the option of appointing a substitute representative by proxy. This allows owners to vote on agenda items. In order to ensure that the representation is valid there is a prescribed proxy form which we distribute with the agenda notice. The Lot owner appointing a proxy may submit this anytime up to the start of the meeting.
We provide developers with strata consulting services including practical advice on the legislative, operational and financial effects of different schemes. From strata registration to drafting by-laws, we have the expertise to assist you.