- This topic has 5 replies, 4 voices, and was last updated 13 years, 2 months ago by .
-
Topic
-
Is there a recommended professional standard for structure of management fees – ie paying for every email/photocopy/phone call or by an upfront fee per unit which encompasses a fair fee for these items. What do others think is fair?
-
Replies
-
Hi phlebe
Looks as if – like me – you have a series of questions following your AGM late in 2011 (I've seen a few of your other posts).
You might find it useful to check out Strata Community Australia (NSW) at https://nsw.stratacommunity.org.au/ – this is the professional association for strata managers (formerly known as ISTM) and they have a list of professional standards that are a requirement of membership.
They also have info about who's responsible for what (ie owners' corporation versus individual owners) and an online training module for Executive Committee members… which anyone can do.
Hope these help give you a start. It's also worth checking out the NSW Fair Trading's website section on strata schemes at https://www.fairtrading.nsw.gov.au/Tenants_and_home_owners/Strata_schemes.html
phlebe said:
Is there a recommended professional standard for structure of management fees – ie paying for every email/photocopy/phone call or by an upfront fee per unit which encompasses a fair fee for these items. What do others think is fair?
I am interested in this as well as I will be attending my first AGM in a couple of weeks. Could the response differentiate between large complexes and small (e.g. eleven single story villas) that would not need as much “management”?
Strata Managers will often tell you that smaller complexes are much less cost-effective for them to manage because the basics take just as mush of their time but there is a smaller pool of volunteers from which to draw EC members to run the building, creating issues. Also, in smaller complexes, the issues can get very personal very quickly which creates a lot of telephone and email traffic. However, there is a limit on how much they can charge in a competitive market.
Strata Community Australia are not allowed to set fees for their members as that would be considered anti-competition. As afar as fees for photocopying are concerned, this is something you should negotiate in your contracts. However, you will get good advice from the Owners Corporation Network (www.ocn.org.au) on what others pay.
The opinions offered in these Forum posts and replies are not intended to be taken as legal advice. Readers with serious issues should consult experienced strata lawyers.
Thank you Jimmy, I think our Strata Manager is doing a good job but will find out when I see the paperwork for our AGM.
- You must be logged in to reply to this topic.