New Developments & Builders
Core Strata is dedicated to providing expert assistance in setting up new Owners Corporations in Victoria. Our comprehensive approach ensures that the process is seamless, compliant with local regulations, and beneficial for all parties involved. Below, we outline how Core Strata can assist you in establishing a new Owners Corporation and the steps we take to ensure it is set up correctly and optimally. However, there are circumstances where there might be additional items that will need to be completed, but if this does occur, notification will be advised before proceeding.
How Core Strata Can Assist
1. Initial Consultation and Planning
Understanding Your Needs
We start with a detailed consultation to understand the specific requirements and goals for the new property.
Customised Plan
Based on your needs, we develop a tailored plan to establish the Owners Corporation, ensuring compliance with the Owners Corporations Act 2006 (Vic) and the Owners Corporations Regulations 2018
2. Documentation and Registration
Preparation of Documents
We assist in preparing all necessary documentation, including the Owners Corporation rules, by-laws, and other essential legal documents.
Lodgement and Registration
Once Core Strata has prepared and organised, we will handle the lodgement of all documents with Land Victoria to officially register the Owners Corporation once approved.
3. Financial Setup
Bank Accounts
We help set up the Owners Corporation's bank accounts to manage funds efficiently. We will also apply for TFN (Tax File Number) as well as the ABN (Australian Business Number) as part of this process
Budgeting & Financial Planning
Our team provides guidance on budgeting and financial planning to ensure the Owners Corporation is financially sound from the start.
4. Insurance and Risk Management
Insurance Coverage
We assist in obtaining the necessary insurance coverage for the Owners Corporation, including building and liability insurance.
Once settlement has occured Core Strata will organise (If required) an insurance valuation, and a maintainence plan to be completed.
Risk Assessment
Core Strata conducts a thorough risk assessment to identify potential issues and implement strategies to mitigate them.
If required we will get an OHS reported completed if further assessment is needed by a professional body
5. Meetings and Governance
Inaugural Meeting
We organise and facilitate the first meeting called the Inaugural meeting, ensuring all parties are informed and involved in the decision-making process for all the owners upon settlement.
Committee Elections
Assistance with the election of key committee members, including the chairperson, secretary, and treasurer.
6. Ongoing Management and Support
Strata Management Services
Core Strata provides ongoing management services, including maintenance, repairs, and administrative support.
Communication & Transparency
We ensure clear and transparent communication with all owners, keeping everyone informed about important decisions and developments.
Setting up a new Owners Corporation in Victoria can be a complex process, but with Core Strata's expertise and support, you can be confident that it will be done correctly and efficiently. Our comprehensive services and best practices ensure that the Owners Corporation is set up in the best possible way for all parties involved.
For more information or to schedule a consultation, please contact Core Strata today.
