It’s common with a managed property or complex for the body corporate or owners corporation to find that the management agreement is too generic in its description of the manager/caretaker duties. This situation can lead to disputes which in turn have a negative impact on the smooth running of the building or complex. Common problems include:
- Interpretation of duties prescribed in current agreements. The majority of agreements are open-ended and subject to individual interpretation.
- Disagreements over the remuneration being paid under the terms of the current agreement.
- Updated schedules of duties following upgrades or refurbishment of the common areas of a building/complex that result in a disagreement.
The answer is to review the schedule of duties and the remuneration payable under the terms of the current management/caretaking agreement. BMCS’s unique time and motion methodology results in a tailor-made assessment of the building or complex’s specific and individual requirements. Because benchmarking comparisons with other properties is just part of our approach, the result is a recommendation for a schedule of duties and remuneration that is absolutely fair and justifiable and specific to the particular building/complex. In our experience, we have never seen two buildings/complexes that are the same and we assess each client’s property accordingly.
A BMCS report can be used to develop a new, fair schedule of duties that are specific to the particular building/complex.
A selection of clients who have engaged BMCS to provide specialised expertise in recent years includes but not limited to:
- Niramaya Villas & Spa – Port Douglas
- Horizons – Jindabyne NSW
- Emerald Lakes – Carrara
- Cloudland – Bowen Hills
- Aegean – Surfers Paradise
- Grand Mariner – Paradise Waters
- Liberty on Tedder – Main Beach
- Mariners Reach – Newstead, Brisbane
- Reef Terraces – Port Douglas
- Deville Apartments – Main Beach – Gold Coast
- Spinnaker – Main Beach
- Waterview Terraces – Townsville
- Deepwater Point – Labrador – Gold Coast
- Zanzibar – Mooloolaba
- Sirroco – Mooloolaba
- The Reserve – Varsity Lakes, Gold Coast
- River Place Apartments – Boundary Street, Brisbane
- Meadowlands – Carina
- Victoria Square – Broadbeach
- Hastings Cove – Hastings Point NSW