How to make sure a Body Corporate is looking after your building?

Summary:

You don’t know exactly as you have nothing to compare it to and other only way to tell is to get a competitor to do an audit and address needs that may have been overseen. This doesn’t mean you get rid of your Body Corporate necessarily but may high light needs to be attended to.

TRANSCRIPTION:

How do you know if your body corporate is doing the best job? Good day, Andrew Murray here from the Apartment Specialists. In short, you don't know if your body corporate is doing the best job because you've got nothing to compare it to.

I have seen one building that is looked after by one body corporate and another building that is being looked after by exactly the same body corporate. One of these is doing a great job and the other, not so great. So what is it that actually makes or keeps all businesses striving to make sure their service and what they deliver is always best for the consumer?

That's capitalism. That's what we're founded on. That's why we are not communism and it's competition. That's why one airline gets more business than another. It's the service. It's the price. So in short, the only way to really be able to tell the if your body corporate is doing a good job is to bring in an audit from the competition.

He comes in and looks at how your body corporate is looking at your property, from what they are charging for their service. And it doesn't mean that you have to fight your body corporate. But what it does mean is that, I can almost guarantee every single time, you'll find something where you can bring to your body corporate and say, the competition didn't identify this area.

Maybe you can improve on this area. Or worst case scenario, they come in and expose that your building hasn't been looked after and then you can go to the competition. But really, it's not really about whose going to win the business. It's about you having visibility and doing things right. The only way you can do that is through how every single industry is run - competition. So this is a very interesting topic because most body corporates didn't actually win the business because they did a great job.

They got it because it was given to them from the developer. So the developer sold down the apartments with a body corporate already in place. That's why, in my opinion, there's a lot of buildings that aren't being managed as well as they could be. Now, I'm not saying that that is on purpose. I'm just saying that the business came a bit too easy.

So if you're an apartment owner and you want a body corporate and you want to check out how well your body corporate is doing, bring in the competition and see what they have to say.

I hope that helps. Give me a ring on 021424892 or flick me an email [email protected] if you want some more information because it's quite a complex situation. But I hope this has been of some help.

Cheers. Bye.