EXPERIENCED COMPANY TITLE MANAGERS
COMPANY TITLE MANAGERS WHO UNDERSTAND THE UNIQUE CHALLENGES OF MANAGING A COMPANY WHOSE SHAREHOLDERS ARE ALSO NEIGHBOURS
Company title management is not simply an extension of skills developed in strata management.
Under company title, the property is owned by the company. Unlike members of a strata scheme, the shareholders in a company title own shares in the company, not land. And as shareholders, their relationships are governed by the constitution of the company.
Consequently, owners don’t form a committee to manage the property, they appoint directors to a board at their AGM. Because the property is owned by a company, any dispute between shareholders is a business dispute heard by the local court — or Supreme Court, depending on the type of dispute — not a tribunal.
Each of these things is a significant departure from strata management, which is why you need a company title manager with experience in:
- The specifics of company title
- Managing a business
- The very different law that applies
COMPANY TITLE: DIFFERENT LAW, DIFFERENT CONSTITUTIONS, DIFFERENT RIGHTS
Strata schemes are managed under a single and relatively codified piece of legislation. Company title schemes are regulated by the individual constitution of the company, which used to be called its memorandum and articles of association. Beyond those rules, the company is incorporated under the Corporations Act 2001 and disputes are heard in the local court, applying the Local Court Amendment (Company Title Home Unit Disputes) Act 2013, and sometimes the Supreme Court.
There is a level of complexity here that means you need your company title manager to have a proper understanding of the law and your individual constitution. Even basic rules, such as what makes a quorum, can be different in every company title building.
Additional complexity arises because the shareholders in your company are also neighbours, and the issues under discussion affect their homes or significant investments. This makes your manager’s diplomatic and negotiation skills of paramount importance.
WE ADVISE YOU DECIDE
As company title managers, we advise your board on:
• What’s permissible under your constitution and the law — or we advise you when to take specialist legal advice
• Getting quotes for work, including who should quote and how their quotes compare
• Heading off disputes and navigating the disputes that can’t be avoided
With our advice in front of you, your board can make informed decisions with confidence.
Extensive experience in company title management
ECompany title schemes are common in some of Sydney’s most established properties. However, because of some advantages over strata title, some new buildings are choosing company title over strata title.
Whether your building is established or new, when it comes to company title versus strata title:
- The law governing company title is different and more complicated
- Your constitution is unique, so that must be factored into every decision
- The stakes in any dispute are higher because they will be heard by a local court or the Supreme Court, not a tribunal
As experienced company title managers, we have extensive expertise in the difference between managing a property held by a company and managing a property on behalf of shareholders.
Managing specialists
Strata schemes need specialists from time to time — engineers, electricians, plumbers, lawyers and others. Bringing in the right specialists and interpreting their recommendations correctly is essential to achieving the desired result. Here, our experience in providing context can be invaluable.
MANAGING FOR THE LONG TERM
Your property is a long-term investment. As such, it will benefit from a longterm relationship with a team that knows the people involved and knows the property. We have long term clients serviced by our long-serving team, so you’re always dealing with someone who knows you.
Your property will have a lead manager and a co-manager, so there’s never an interruption in knowledge or service.
SEAMLESS SERVICE
Handovers from existing company title managers
Usually, clients come to us through referral because they’re looking for a more experienced company title manager than they currently have. As a result, we’ve refined a seamless process to transfer and absorb all the necessary details, meaning that you are upgraded you to our high standard of management quickly.
Current systems and procedures
Current systems and procedures You need decisions and action quickly. To help us do that, we use an online workflow management tool. That tool means:
- Everyone on the team can see all the open tasks for your property
- Tasks are always followed through, so you never end up with an emergency because a job wasn’t started or finished
Ongoing training
All professionals should be learning constantly. That’s why we’ve developed our own training program, which drives our service quality beyond the normal standards for our industry, because we understand that what we do matters to where people live.
WHAT OUR SYDNEY-BASED COMPANY TITLE MANAGERS DO
1. Establish delegated authority
At the first meeting of the board, we agree the extent of our delegated authority with the directors. Together, we decide what you are happy for us to do within your parameters, and where you would like us to consult first.
2. Service contracts and agreements
We’ll negotiate new service agreements, where you need them. And we’ll review existing agreements to make sure you get the services you need, you expect, and you pay for.
3. Budgets and financial statements
We work with the treasurer (and building manager where appointed) every year to decide on a budget to present to the board and then to the AGM. We ensure the budget is easy to present to the AGM because it will be:
- Clear — every figure will be accompanied by historical comparisons and detailed explanations of how it was arrived at
- Compliant — because the law expects company finances to be presented in a certain way
Every month, we provide financial statements and reports, including:
- Income and expenditure statement (profit & loss)
- Balance sheet
- Aged levy arrears (aged debtors)
- General ledger
4. Board meetings
Your company deals with shareholders’ homes and most important investments. The issues your board discusses are serious. Sometimes they will be contentious. Always, they will be governed by law and your constitution. Our experience gives us the skills to ensure everyone feels heard, even when the subject is difficult. This minimises the chances of disputes.
5. Compliance
We manage all your legislative requirements, including:
- Insurance renewal and insurance claims, including valuations
- Annual fire safety statement20 compliance
- Work health and safety (WHS),21 including making sure contractors are appropriately licensed and insured
- Records management and data storage
6. Dispute resolution
Disputes are bound to occur in any business and they are more common where the business manages people’s homes. We’re experienced negotiators with an expert grasp of the issues, including the consequences if the matter can’t be resolved among the shareholders. If, however, resolution is impossible in-house, we’re experienced in working with boards and lawyers on mediation and litigation.
7. Defect claim management
We have expertise in managing multi-million-dollar claims for defects in existing and newly constructed buildings, as well as dealing with insurance claims and claims arising from the Home Building Act 1989.
8. Consulting
We provide one-off consultations or ongoing consultancy. This can be useful if you’d like a second opinion or you need someone to attend general meetings as your proxy
ARE WE THE RIGHT FIT?
We’re strata managers for owners corporations in Sydney that value smooth operations, trustworthy advice and confident decision. If you’re looking for an efficient, effective and expert strata manager whose advice you can rely on, we’d like to ask you a few questions about your situation and your expectations. Then we can advise if we look like the right fit for your strata committee.