We're experts in establishing your Owners Corporation!
Ross-Hunt Real Estate prides itself on its ability to not only manage properties but also to its ability to assist in the process of establishing Owners Corporations. With over 40 years experience in establishing Owners Corporations for new developments and a dedicated team of Business Development staff who oversee the process from start to finish, we are confident in our ability to offer developers with a comprehensive and simple OC establishment process.
Benefits Offered to Developers
- No set up costs
- Owners Corporation Certificates issued free of charge
- Experienced team who oversee the establishment of your OC
- Expert Insurance Brokers engaged to protect your project once completed
- Assistance in establishing special registered rules
- Comprehensive understanding of the relevant legislation
Arranging Owners Corp Certificates
There is no set-up charge to you as developer for any of the services we provide in establishing the Owners Corporation. In addition we provide developers with the initial Owners Corporation Certificates free of charge, waiving the prescribed fee ($150.00 per certificate). The Owners Corporation Certificates can only be issued following the registration of the plan of subdivision, which is when the Owners Corporation comes into effect. The certificates provided will be included in the contracts of sale and will also be used by your solicitor to calculate adjustments at settlement for the initial insurance premium, which is to be paid by the developer upon issue of the Certificates of Occupancy.
Establishing an Owners Corporation in 12 Simple Steps
The first part of the process is to notify us of your upcoming project. It is preferable that we are made aware of your new project in the early stages of construction, as this gives us ample time to have everything prepared in anticipation of the project’s completion. It will also ensure that you are able to supply proposed budgets to prospective purchasers who are looking to buy off plan. However, if you have an upcoming project that is already completed and in urgent need of an OC Manager and OC Certificates, we are able to have everything organised promptly and efficiently if you are working with a restrictive time frame.
This helps us in the preparation of our proposed budgets and is an important component of obtaining an insurance quotation.
This documentation is drafted in anticipation of the registration of the plan of subdivision and is submitted to the developer ahead of time for approval.
Should you have any concerns or questions regarding the budget and minutes, we are happy to assist you in making sense of the documentation. If you wish to make amendments to the supplied documentation, this is not a problem.
We will commence the strata insurance policy upon issue of the certificates of occupancy for the development. Once commenced, the premium is to be paid by the developer and the cost of the premium is to be reimbursed via pro-rata adjustments which are arranged by the developer’s solicitor at settlement.
Prior to organising the Owners Corporation Certificates to be used in the contracts of sale, we will require that the insurance premium has been paid and that the OC Minutes of Inaugural General Meeting and Contract of Appointment have been signed and approved by the developer. Once all is in readiness and the plan of subdivision has registered, we will issue the Owners Corporation Certificates to the developer’s legal representative, free of charge.
Usually held on site with the Developer and Builder. It gives the manager the opportunity to inspect the development and establish a better understanding of the properties requirements, nuances and features with the parties who are most familiar with the development. During the handover, any relevant drawings, manuals and keys relating to the common services/areas are provided to the Owners Corporation Manager.
Once the Plan of Subdivision has registered, the Owners Corporation then comes into existence as an entity and Ross-Hunt’s management of the property will commence from here onwards.
The cost of preparing this is accounted for in the Owners Corporation Budget and there is no additional charge for this service to you as the developer.
This is organised so that once managed, local council and government can look up who is responsible for the management of your property (once completed).
Upon the commencement of management of your project, occasionally matters will arise that were initially not anticipated or planned for. In order to ensure a smooth transition from construction to management, it is important that we maintain lines of communication with the developer in order to overcome any teething issues in an effective and appropriate manner.
As lots begin to settle, the appointed manager of your project will begin to put in place the required services and liaise with new owners regarding any issues and matters requiring attention on site. Once a majority of lots have settled, the appointed manager will schedule the AGM where a new budget is to be presented to the Owners Corporation Members for approval and all other general business such as insurance and common property maintenance can be discussed between the manager and the new owners.
The Ross-Hunt Difference
At Ross-Hunt, we not only strive to provide our cliental with a worry free management experience but we go one further and aim to do so, while providing an above board financial system, where we do not charge our members unnecessary and ambiguous extra fees.
What sets us apart from the pack? The details outlined below are services which we offer all Owners Corporations, at no extra charge and are the services which believe are The Ross-Hunt Difference:
inside or outside of office hours, Monday-Thursday, on site or at our offices – all at no extra cost.
Under our management, our members enjoy a continuity of service from a dedicated portfolio manager and are not bounced around from staff member to staff member.
Ross-Hunt has been managing Owners Corporation since being established in 1973. Today we manage in excess of over 1150 Owners Corporations which are located across Metropolitan and Rural Victoria.
We don’t ask our property managers to be Administrative and Accounts staff as well as property managers. Instead, it is of the utmost importance to us that our managers are able to focus on what our owners pay them to do…Manage property! To ensure that our expert team of members is not over worked across a large variance of tasks, we employ the services of 8 dedicated accounts and admin staff who handle the payment of invoices, auditing of financials, preparation of financial statements, updates of owners details, payment, issuing of contributions and correspondence, management of utilities invoices and various other tasks throughout the office.
We provide an online service to all of our owners, where members are able to view various pieces of financial information in relation to their particular Owners Corporation. The advances in the technology that we are using to provide this online portal are forever improving and the information that members are able to access through our online portal will only continue to grow.
We will arrange quotations and arrange works for any maintenance issues at the property using one of our qualified tradespeople. Also please note that although we have in excess of 100 preferred and trusted contractors which we use, our OC’s are not restricted to use only our l preferred contractors and are welcome to engage a contractor (who is appropriately covered and qualified) of their choosing as an alternative, provided the appropriate resolution is achieved to do so.
For after hour property emergencies, we have qualified professionals on call, ready to immediately attend to any issues that may arise at our properties at any hour of the night (there is a call out fee charged when an issue is attended to but this is charged by our emergency contractor, not Ross-Hunt).
We use BJS Insurance Brokers to handle all claims and policy queries that owners may have. If the OC request multiple quotations, this can be organised by BJS free of charge.
Under our management there are no extra fees for any of our routine services – you will NOT be charged extra fees for any of the following services:
- ABN registration (annual)
- Archiving/storage charges
- postal ballot charges
- accounting charges (unless OC is registered for GST and require BAS Preparation services)
- organising repairs and maintenance charges
- handling insurance claims
- travel charges for meetings and attending the property
- charges for holding the AGM
- charges for auditing financials
- correspondence (phone, email and post) charges
- charges for meetings that exceed an hour in duration
The only circumstances in which we will issue extra charges to an Owners Corporation is if we have had to attend VCAT on behalf of an Owners Corporation or if we have had to hold a meeting in addition to the AGM. The charges for attending such these services are: $175 per hour during business hours and $275 per hour outside of business
In extreme circumstances where a manager has had to carry out a scope of works in relation to a property that greatly exceeds what would be deemed as reasonable, there may be extra charges incurred by way of a greater than usual increase in management fees for the next financial year. Our philosophy in relation to alertation of management fees is that the increase should not come as a surprise.