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Building Management Group (BMG) Services

Queensland developments with shared areas, facilities and utilities have become larger and more complex.

 

To address this complexity, property developers are relying more and more on Building Management Statements (BMS) registered on the title of shared property under the Land Titles Act 1994 (Qld) as a contractual tool to regulate use, enjoyment and apportionment of expenses between the people entitled to use those shared areas.

 

The owners entitled to use those shared areas are required to appoint representatives to serve on the Building Management Group (BMG). 

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Ensuring your BMG has expert support to properly administer the BMS and to comply with its associated accounting and legal compliance requirements is key to keeping costs under control and reducing disputes.

Building Management Group clients enjoy:

Full support for your Building Management Group (BMG) to comply with its Building Management Statement (BMS) including:

  1. Providing guidance on the most advantageous structure for the BMG to operate through (Other Unincorporated Association);

  2. Ensuring accurate apportionment of costs in accordance with the BMS schedule of shared areas and shared facilities (We are proud to refuse all commissions, kick backs and profit share arrangements on anything your BMG pays for, including building insurance, saving your owners thousands);
  3. Providing high quality of accounting services as per the Australian Accounting Standards and regular financial reporting including cash flow analysis; 
  4. Preparation of draft budgets required under the BMS and collection of set contributions from BMG members;
  5. Preparation of all paperwork for BMG meetings and decisions;
  6. Advice on the correct interpretation and application of your BMS (which deals with rights of support and shelter for strata and volumetric lots), including: placement of mandatory insurance, rules relating to the supply of shared utility services, assessment under architectural codes (if applicable), maintenance of shared areas and services and any agreed changes to the BMS.
Strata Vault The Nuu Co.jpg

What is

Strata Vault?

At The (Nuu) Co, we know owners love transparency, especially about where their body corporate levies are spent.

 

Strata Vault is how we give all our owners 24/7 access to all of their body corporate records, and keep them up to date with what the committee is dealing with during the year.

 

Because if there's nothing to hide, why not show owners everything?

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