Properties can be sold off the plan, however certain steps need to be completed through the design and construction phases in order to facilitate a smooth subdivision and settlement process. Dealing with government agencies could be extremely slow and painful, thus you need to plan ahead and action early.
If the subdivision involves common properties, it is highly recommended to engage a professional manager to set up and manage your Owners Corporation. Owners corporations are treated as public companies for tax purposes, so its management could be costly if not handled properly according to the Owners Corporations Act 2006 (the Act), Owners Corporations Regulations 2018 and Owners Corporation Rules.
GHX P/L is registered as an Owners Corporation Manager under Section 182 of the Owners Corporations Act 2006 (the Act). The founders of our company have decades of experience in property, finance, management and regulatory space. We established this business initially to manage some of our own property portfolio as we were charged extraordinary fee as property owner.
As you probably have seen the poor strata industry practices exposed in ABC’s recent Four Corners program, there are many owners who need help from an honest and professional manager like us. Unlike other managers who profit from insurance rebate, we have decided to only refer our clients to reliable insurance companies or brokers. You as the client has the right to seek as many quotes as you like from different sources.
Feel free to contact us if you need help with:
- Preparing Plan of Subdivision
- Advising on Partial or Full Settlement
- Setting Up Owners Corporation
- Administering Owners Corporation with
- preparing meeting agenda
- sending out meeting notice for IGM and AGM
- conducting IGM and AGM
- recording and distributing meeting minutes
- issuing owners corporation certificates
- maintaining and updating owners’ details
- organising property valuations
- Managing Financial Matters for Owners Corporation, such as
- opening and maintaining bank account in the name of the owners corporation
- preparing bank reconciliations
- preparing annual financial statements
- preparing annual budgets for approval
- issuing owners corporation fee notices
- following up with owners in arrears
- Coordinating Repairs and Maintenance for Owners Corporation
- maintaining a database of hundreds of qualified & reliable tradespersons
- sending out tradespersons for ongoing maintenance