The responsibilities of the executive committee mainly include the management of the collective property. However, it is not as simple as it seems. This consists of a lot of responsibilities, especially when viewed more closely. When detailed, the duties of the owner’s corporation, when it comes to caring for common property, are to keep it safe, maintain or improve its current condition, ensure its safety and ensure its organized use.
A fund is needed to implement these actions
The Executive Committee, together with the managing strata, agree on the cost of joint ownership of the common property, setting budgets, collecting tolls and keeping records of all financial transactions. All this is secondary to the main responsibilities of the executive committee, which should manage the common property. This is a very delicate task that involves many vital duties. To effectively manage the stratum scheme, you must have a compliance program. However, this does not necessarily mean that if you have an established compliance policy, everything in the project will be complicated. You must have other support tools that perform the measurement, monitoring, and reporting tasks. This is what the owners corporation managers in Melbourne do.
If you are a partner in the ownership of a residential complex, house or apartment, then you know that it takes a long time to make sure that they work smoothly and without interruptions. Your homeowner corporation wants to see that your investment is working well and is being adequately taken care of so that it remains accessible to all. For this to happen, you must have a service that can not only properly manage the property, but also control all actions and, together with the owners of the corporation, manage the property and everything connected with it.
Many terms are issued that have the same meaning as corporate management. Some call it “layer management,” group management, homeowners, or community ownership management. For some, whatever the term, the process seems like a significant expense and something they could survive without. But in fact, this comprehensive oversight can be of great benefit to the reservoir design. Here are some of them:
Basic accounting and other corporate financial services, including:
- Setting up and maintaining corporate bank accounts
- Collection, billing and bank notices
- Preparation of corporate financial statements.
- Programming and distribution of payments based on invoices issued by the company.
- Preparation of financial statements.
- Maintaining corporate accounting files of the organization.
- Preparation of financial statements for audit.
Clerical tasks, such as:
- Organize and conduct corporate meetings, taking on all secretarial duties.
- Updating corporate records, including registration and registration.
- Record candidates for various positions on the committee.
- Create and distribute meeting notifications.
- Preparation of the agenda for the meeting.
- Enforce rules during meetings.
- Organization of annual meetings of the General Committee.
- Development of the minutes of the sessions.
