Question 1

What is an owners corporation?

Accepted Answer

An owners corporation (formerly known as a body corporate) is the legal entity created when a plan of subdivision is registered. It consists of all lot owners in a building or development and is responsible for managing common property, including maintenance, insurance, and finances.

Question 2

What does a strata manager do?

Accepted Answer

A strata manager (or owners corporation manager) is a professional who handles the day-to-day administration of an owners corporation. This includes managing finances, organising meetings, coordinating maintenance, handling correspondence, ensuring compliance with legislation, and acting as a liaison between lot owners and the committee.

Question 3

Do I need a strata manager?

Accepted Answer

While it's not legally required to have a strata manager, professional management is highly recommended for sites with more than a few lots. A qualified manager ensures compliance with the Owners Corporations Act, handles complex administrative tasks, and can save time and money through efficient management and contractor relationships.

Question 4

How much does strata management cost?

Accepted Answer

Traditional managers typically charge $300 to $500 per lot per year for small townhouse communities, often with added disbursements. StrataXcel charges a flat $99 per lot per year management fee for sites of 10 lots or fewer. Use our savings calculator for an instant comparison against what you pay now.

Question 5

Are there any hidden fees?

Accepted Answer

No. We believe in complete transparency. Our management fee covers all standard services. Any additional services (like special meeting attendance or major project management) are clearly outlined in our proposal and only charged when you request them.

Question 6

How do your fees compare to other managers?

Accepted Answer

Our fees are competitive with the market while offering more value through better service. Many traditional managers have low base fees but charge for extras. We include more in our base fee, so when you compare total costs, we often come out ahead while providing better service.

Question 7

What services are included in your management fee?

Accepted Answer

Our standard management fee includes: levy collection and financial management, preparation of annual budgets and financial statements, coordination of AGMs and committee meetings, maintenance coordination, correspondence handling, online portal access, insurance claims assistance, and compliance monitoring.

Question 8

Do you handle emergency repairs?

Accepted Answer

Yes. We have processes in place for emergency situations and maintain relationships with reliable contractors who can respond quickly. For after-hours emergencies, committee members can contact our emergency line to authorise urgent repairs.

Question 9

How do you select contractors?

Accepted Answer

We maintain a network of vetted, licensed, and insured contractors who provide competitive pricing. We obtain multiple quotes for significant works and always present options to the committee for decision. We don't take kickbacks from contractors - our only loyalty is to your OC.

Question 10

How do we switch to StrataXcel?

Accepted Answer

Switching is straightforward: 1) Contact us for a no-obligation quote, 2) If you proceed, present our proposal at a committee or general meeting, 3) Pass a resolution to appoint us (usually by ordinary resolution), 4) Give notice to your current manager, 5) We handle the transition. We guide you through every step.

Question 11

How long does the transition take?

Accepted Answer

The typical transition takes 4-6 weeks, depending on your current manager's notice period and how quickly they provide handover documents. We begin preparing immediately after appointment and ensure a smooth handover with minimal disruption to your site's operations.

Question 12

What if our current manager won't cooperate with the handover?

Accepted Answer

This is rare but can happen. The Owners Corporations Act requires outgoing managers to hand over all records within 28 days. If there are issues, we know the proper procedures to ensure you receive your documents and can assist with any disputes.

Question 13

What legislation governs owners corporations in Victoria?

Accepted Answer

Victorian owners corporations are governed by the Owners Corporations Act 2006 and the Owners Corporations Regulations 2018. These set out requirements for meetings, finances, maintenance, rules, and manager conduct. We stay up-to-date with all legislative changes to ensure your OC remains compliant.

Question 14

What are the different tiers of owners corporations?

Accepted Answer

Victorian owners corporations are classified into tiers based on size: Tier 1 (101+ lots) has the most requirements, Tier 2 (51-100 lots), Tier 3 (10-50 lots), Tier 4 (3-9 lots), and Tier 5 (2 lots). The tier affects financial audit requirements, meeting procedures, and record-keeping obligations.

Question 15

Do we need to have our accounts audited?

Accepted Answer

Tier 1 and Tier 2 owners corporations must have their accounts audited annually. Tier 3 owners corporations need an audit every 5 years or when requested by lot owners holding 25% of lot entitlements. We can recommend qualified auditors and coordinate the audit process.

Question 16

How do I access my site's documents?

Accepted Answer

All lot owners and committee members can access documents through our online portal 24/7. This includes financial statements, meeting minutes, contracts, insurance certificates, and maintenance records. You can also request hard copies if needed.

Question 17

What is included in an OC certificate?

Accepted Answer

An Owners Corporation Certificate (Section 151 Certificate) includes information about fees, levies, special levies, any amounts owing, insurance details, and any notices or orders affecting the lot. These are typically requested during property sales and we process them within required timeframes. You can order one directly through our website.

Question 18

How long are records kept?

Accepted Answer

We maintain records in accordance with legal requirements: financial records for 7 years, meeting minutes indefinitely, and other records as required by legislation. All records are securely stored digitally with appropriate backups.

Frequently Asked Questions

What is an owners corporation?

What does a strata manager do?

Do I need a strata manager?

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