Hi, my mum has a unit which is being rented out. My knowledge in the property industry is poor, so I need some help regarding ownerscorp. We get letters from an ownerscorp services in which they say they have done some repairs etc to the property. Just a few questions I have
1. Is it mandatory having these ownercorp services? (Im from Victoria and the property was purchased in 1992)
2. Am I correct in saying ownerscorp is not insurance for the property but instead they only do repairs external to the property eg outside painting, repairing fences etc.
3. Do we have choice in which ownerscorp company we choose?Sorry if they are dumb questions. But I just want to get some idea about ownerscorp and what they actually do.
Cheers
By owners corp, I am assuming you mean 'body corporate for a block of units/townhouses etc'.
1 – not sure if it is mandatory but it is required under the strata act – you may not need a strata manager but it is a requirement that some structure is in place to ensure that maintenance on the building is done, that insurances are current, that the leaves are swept up, gardens done etc and most people are too busy to do it.
2 – see 1, they do more than the above list.
3 – The body corporate (all of the owners) have a vote as to who they will engage to carry out the role of strata manager (the company engaged to organise all of the works (the executive commitee directs the strata manager).
Google strata manager and check out some websites/vcat etc
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