Earlier this week, media reported on Australia’s strata management industry, specifically, the unscrupulous business practices amongst some service providers.
Interest in the strata management sector in understandable because it impacts the lives of homeowners, occupiers and investors alike. Every owner of strata property deserves the right to professional strata management services that are free from conflicts-of-interest, that are regulated, compliant, offer value for money and are offered at a fair market rate.
Like other industries, most strata professionals are dedicated to the best interests of their clients, and are hardworking, ethical people who genuinely care about the work they do in the communities they care for.
Media and regulatory scrutiny highlight the importance of ensuring your strata management provider is registered, reputable, complies with the prevailing legislation, always acts ethically, and provides a no-conflict-of-interest assurance in the genuine protection of your interests.
We take this opportunity to reassure past, current, and prospective clients that at SELECT Strata Communities:
▪ Every SELECT member firm is a registered Owners Corporations Manager with Victoria’s Business Licensing Authority and a member of Strata Community Association Australia (SCA), our industry peak body.
▪ We do not engage in the illegal practice of providing financial incentives or preferential treatment to property developers to appoint us as their strata managers.
▪ We do not engage in unconscionable conduct with our Owner Corporation clients.
▪ Insurance commissions received are disclosed and in accordance with the Contract of Appointment.
▪ We do not receive commissions or secret payments from clients, suppliers or developers.
▪ Fees charged are fully itemised and disclosed in a transparent manner in the Contract of Appointment and approved at Committee level.
▪ Arrears recovery practices are conducted in accordance with legislative requirements, outlined at every Annual General Meeting, minuted and approved at Committee level.2
▪ Our people operate in accordance with our industry and organisational code of conduct at all times.
▪ We utilise reputable insurance brokers where there is no conflict-of-interest or affiliation with other contractors or suppliers. We obtain at least 3-insurance quotes for our clients to consider wherever possible. In addition to quotes obtained via a broker, we also offer direct to insurer quotes.
▪ Integrity is a foundational principle in our organisation: every employee is subject to our Conflict-of-Interest Policy and required to sign a no-conflict-of-interest declaration as a term of employment.
▪ Suppliers and contractors are notified of the no-conflict-of-interest assurance we provide our clients. Suppliers and contractors are expected to perform in a way that does not compromise the interests of our clients, and the integrity of our staff, professional services, or reputation.
Our people are always on hand to answer any queries you may have about our professional services, fees, our supplier relationships, and your expectations.
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