All Topics / Help Needed! / Changing body corp to reduce the fees

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  • Profile photo of propertymistropropertymistro
    Member
    @propertymistro
    Join Date: 2010
    Post Count: 64
    August 19, 2010 - 11:45 am

    Hi all,

    I am looking to buy a property in a complex of about 8 units.  However the body corps may be high for a complex with – no pool, no lift, rubbish around the yard, electronic parts piled in the yard, and poor garden maitenance.  I am wondering if it is possible to change the body corps of a unit block if you own a unit in the block and also to find a new one which will charge less fees.  What is standard procedure for this and has anyone had positve results with this. 

    Thank you in advance for your posts.

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404
    August 19, 2010 - 11:53 am

    Yep, can be done.

    First check to see what the charges are. That may not be the problem, although by the sounds of it they are not doing a good job. Have you done a strata search?
    The owners set the fees.  Maybe the fees are high because they just did some major works and need to build up the sinking fund.

    Get the right facts first before jumping the gun and trying to change everything.

    There's a saying in management-= don't tear down the fences until you know why they were built.

    Profile photo of jacqui_03jacqui_03
    Participant
    @jacqui_03
    Join Date: 2010
    Post Count: 142
    August 19, 2010 - 12:03 pm

    Hi propertymistro,

    I have organised a change in strata management companies as the company was not a local company and hardly any of the owners could attend the meetings. To be honest it was alot of work to do as there were 17 units and I had to contact all the owners and arrange a meeting with all owners to vote on the change. You need to get over 50% for the change and then you have to get a letter drawn up issued to the current strata managers advising of the cancellation and have owners sign etc. That sums its up briefly. I would recommend you speak with the new company and ask them to issue you template letters etc which will make your life easier.
    Just a word of caution – read the new management agreement very carefully. You can end get up with a worst deal if your not careful.

    Jacqui

    Profile photo of propertymistropropertymistro
    Member
    @propertymistro
    Join Date: 2010
    Post Count: 64
    August 19, 2010 - 12:40 pm

    Thanks guys that was a huge help.  This forum is a great resource!!!!!  Happy days…

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024
    August 19, 2010 - 1:10 pm

    Whereabouts is the block located?

    Richard Taylor | Australia's leading private lender

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