Strata Property Developers are often unsure as to when they should involve a strata manager - if at all. But it IS a good idea - for many reasons. Even so, many times a strata manager is not contacted until the strata plan has been registered at the Land Titles Office. This is NOT the ideal time.
There's a real benefit for the strata manager to become involved at the very early stages of the scheme to view either the concept plans or the preliminary plans of the development. Why is this? Well...
The savings in both time and money can be enormous if only just ONE major problem can be averted - we usually discover many
Professional help at such an early stage, allows any potential problems concerning lot boundaries and common property areas, along with any aspects that may impact on the long term management of the scheme, to be easily identified and rectified.
From experience, O'Connors Strata can often identify areas unique to strata developments that can pose problems for long term management or which can even impact on the
marketability of particular lots
Especially good for Community Schemes
Early specialist input is also very helpful when formulating a Community Management Statement used in Neighbourhood Schemes and Community Schemes. It's amazing the things that can be easily overlooked but which can cause enormous problems down the track. We will point out any problems for you that might have a negative effect on your development.
How Involved Do We Get?
O'Connors Strata can provide advice on an "ad hoc" basis or be involved as part of the development team in setting up the strata plan. We get involved as much as or as little as you, the developer, require.
The aim here is to ensure that the whole process from a strata viewpoint, runs as smoothly, efficiently and as cost-effectively as possible.
As part of the development team we can cover:
- Pre-registration consultancy
- Assistance with preparation of budget
- Advice on common property and exclusive use areas
- Assistance with by-laws
- Help with navigating through the council requirements
- Advice on common 'traps' to avoid
- Other things you can do to save money & time
We have 2 main aims in ongoing strata management for new developments:
1. Service - Our focus is to meet the needs of the new owners and to work with property managers of investor-owned units
2. Presentation - To ensure the properties are consistently maintained to a very high standard during the entire sales cycle and beyond
We will be in constant contact with you to ensure that all goes well during the sales cycle, that the property is maintained to an attractively high standard (to help sales) and to help you get to the 1st AGM for the scheme (known as the initial period expiration) as quickly as possible.
The One Phone Call Set-Up Service
Our Strata Setup Service has proven to be a very economical and efficient way for strata developers wanting to finalise the strata paperwork on their projects - just one phone call and we handle the rest!!
Section 109 Certificates
We always ensure that Section 109 certificates are processed urgently as we realise how vital this is for you.
Consultancy Service
This is where we can save you really big dollars if a problem is found somewhere hidden amongst the detail. Little gets past our 'trained eyes'.
Pre-Consultancy
We can assist to overcome potential strata and management problems by working with councils, architects, surveyors, developers and solicitors during initial planning stages
- Advice on common property areas, lot boundaries and exclusive use areas
- Arrange preparation of strata plan or liaise with surveyor
- Assist with preparation of by-laws to ensure they cover all aspects necessary for the particular scheme
- Input into Community Management Statement (Community Schemes)
- Streamline the process of the strata plan through Council and Land Titles Office.
After the Strata Plan is Registered
We can:
- Arrange insurance cover
- Establish Accounts & Records as required by Strata Schemes Management Act
- Assist with budget preparation
- Attend to statutory requirements of original owner and owners corporation
- Provide total management package, record-keeping service or consultancy
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The Best Way to Handle a Strata Scheme Set-Up
Establishing of records:
We have found the simplest way for the original owner (developer) and everyone concerned, is to handle the strata scheme in 3 stages:
Stage 1:
Advise us of the estimated registration date of the strata plan and anticipated completion date of construction
Stage 2:
Advise us when the strata plan has been registered
We Then:
- Immediately arrange insurance cover in accordance with requirements of the NSW Strata Schemes Management Act 1996. Due to our high volume of business, we can arrange a very competitive premium
- Convene and hold the inaugural meeting in liaison with developer
- Attend to any particular requirements of the scheme
- Establish the Accounts and Records (required by the NSW Strata Schemes Management Act 1996) which we hold until the First Annual General Meeting
- Issue Section 109 certificates, as each lot is sold
- Discuss with you the anticipated time frame for the sale of the units
Stage 3:
- Initial period expires
- First Annual General Meeting must be convened and held
- Site inspection
If you'd like a quote,
click on the "Get Your FREE Quote Now" button on the right
