If you are looking for how you can change your body corporate manager, then you are in the right place. A body corporate manager can be a company or an external professional that is dedicated to managing the daily operational tasks and administration of a potential body corporate. The tasks include overseeing common assets and properties of commercial, residential, and hybrid complexes.
Keep reading to learn more about how to alter your body corporate manager.
Understand the Signs First – An Overview
Firstly, you must understand the signs that you really need to change body corporate, as this is an important decision that requires careful assessment and consideration. With that said, you ought to recognize the tell-tale signs that can indicate that you need a new body corporate manager.
The typical signs include communication issues, such as messages being frequently ignored, and you are facing delayed responses. Financial discrepancies are also another sign, as they suggest a mismanagement of funds. Poor management also comprises legal and compliance issues. If the common areas of the buildings are showing signs of neglect, it can negatively influence the satisfaction of the residents.
Best Steps to Change and Rehire Your Body Corporate Manager
Now that you know the essential signs that indicate the need to change the body corporate manager. It is time to follow the steps to change your body corporate manager.
Review the Current Agreement
The first step is to go through the current agreement. Before you start this change, it is pertinent to go through the terms and conditions of the present management arrangement. While assessing the current agreement, analyze the termination clause and notice period to establish compliance and avoid penalties.
We also recommend that you consult with a legal expert.
Collect Data on Prospective Managers
The next step is to start looking for a new manager by detailing the skills, experience, and potential services that your property needs. With that said, you must look for potential managers with a solid track record in similar priorities and properties. Shortlist managers with strong communication skills and a great management style.
Make the Decision
The next step is to make the decision. Typically, the decision-making process requires votes from the committee members. You must prepare a proposal that outlines in great detail the advantages of the new management. Make sure to include a potential comparison of costs, services, and other benefits of the new management over the old one.
Send Out A Notice
Understandably, your next step is to notify your current manager about the termination. Make sure to remain ethical and professional, and also align yourself with the terms that are laid out in the existing contract. You must provide clear reasons for the termination and the effective date.
Actively Engage with the New Body Corporate Manager
Once you have reached a decision and sent out the notice to the previous manager, it is time to engage with the new body corporate manager and welcome them onboard. At the time of finalizing the contract, make sure to consider the duration, fees, and key responsibilities.
Final Thoughts
Rehiring your body corporate manager is significant for ensuring the longevity, satisfaction, and profitability of your property management. The process in itself requires careful planning so that you can find the manager who suits the role the best.