Body Corporate Services

Self-Managing an Owners Corporation

Self-managing an owners corporation comes with a number of complex responsibilities, which can increase in number and scale over time. However, it might be the right decision for smaller groups of owners who have an existing understanding of, or willingness to learn, the ins and outs of Victorian body corporate services.

To help you get an idea of how a self-managed owners corporation might work for you, we have outlined a list of pros and cons.

Pros include:

  • You can control all management decisions and expenditures, and have one hundred percent transparency throughout the management process
  • You avoid the additional costs of outsourcing management services
  • You can develop great relationships with other owners and tenants

Cons include:

  • As a self-managed body corporate in Victoria, you are held to complicated and ongoing compliance and legal requirements
  • You are responsible for coordinating any maintenance projects that your block requires
  • You are accountable for billing and insurance, and manage multiple parties in these financial obligations
  • You may likely face challenges with dispute resolution within your management team

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    We hope this has helped your decision making process around whether self-managing might be best for you and your needs. For more information about self-managed owners corporations, you can see the Consumer Affairs Victoria Body Corporate Guide here.

    However, not everyone will feel confident taking on the level of responsibility required of self-managed owners corporations as part of their day-to-day. Employing a professional strata manager may be the right decision if you’re seeking to reduce workload and time spent on your property ownership.

    In Victoria, body corporate services are abundant – but not all have the depth and breadth of experience that we do at Iconic Strata. We understand the legal landscape, and have dealt with a variety of unexpected issues and urgent requests that occur frequently in strata management.

    We offer innovative and smart tech solutions to help integrate and tailor our services to your unique needs. We know professionalism and communication are the foundations of successful strata management service delivery, which is why we consistently strive to be exceptional at both.

    To learn more about our services, call 03 9982 1300 or email info@iconicstrata.com.au for a complimentary consultation.

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    We would be delighted to discuss with you how Iconic Strata Management can make a difference for your Owners Corporation.

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