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OUR FEES

Services which we include in our all inclusive “Agreed Services” fee structure
These services are designed to enable the Strata Company to meet its obligations under the Strata Titles Act and are listed on the Schedule of Agreed Services (Schedule 2).
 
Agreed Services Fee Structure
Our annual management fee starts from $200.00 (excluding GST) per lot depending on the size of your strata scheme and is charged monthly in arrears on the last business day of each calendar month.
 
In respect to items marked with “*” on the Schedule of Services, an additional charge applies, which is equal to the statutory fees received by the Strata Company in respect to those matters or is reimbursable by individual owners. The Strata Company therefore pays nothing for the provision of those particular services.
 
Available Services which are additional to the agreed services
These services are provided as additional services. Our experience is that these services are not regularly needed and the Company would probably derive better value by only paying for those matters as they arise.
 

SCHEDULE A
Agreed Services
 

MY-COMMUNITY ONLINE PORTAL
Provide online access to owners, strata council and tenants
Ensure that all reports, levies and arrears information is current and up to date on portal

LEVYING
Prepare and issue contribution notices to each proprietor or proprietor's agent for periodic contributions; 
Record money received for and on behalf of Strata Company and deposit to the Strata Company's account;
 
BUDGETS
Assist with preparation of administrative fund budgets;
Assist with preparation of Reserve/Sinking fund budgets.
 
PAYMENT OF MONIES
Establish and maintain a separate bank account in the name of the Strata Company;
Pay disbursements and expenses incurred in connection with the strata manager’s management;
Receive creditors invoices for Strata Company;
Pay creditor’s invoices on behalf of the Strata Company;
Maintain payments record.
 
FINANCIAL REPORTS
Maintain financial reports
Provide statutory reconciled accounts including balance sheet, statement of income and expenditure and contribution status report.
 
INSURANCE
Arrange insurance valuations as required;
Prepare and lodge routine Strata Company insurance claims, up to 15 mins per claim
Obtain quotes for insurance renewal
Submit quotes to Council and renew insurances as instructed.
 
Diamond Strata Management are Authorised Representative No. 365765 of CHU Underwriting Agencies and an agent of the insurers, QBE Insurance (Australia) Limited and QBE Workers Compensation (NSW) Limited. CHU Underwriting Agencies Pty Ltd is a specialist strata and community title insurance intermediary and holds an Australian Financial Service Licence (AFS Licence no: 243261) with the authority to advise, deal and issue general insurance products.
As your Strata Manager we act as an Authorised Representative of CHU for arranging the insurance and receive a commission. This commission does not affect the premium you pay to the insurer.
 
COMMUNICATION
Prepare routine correspondence specifically related to the administration of Strata Company;
Refer to the Council as instructed, all correspondence, enquiries, complaints and requests for information from proprietors, councillors, occupiers and others who may have dealings with Strata Company.
 
MAINTAIN RECORDS OF STRATA COMPANY
Record and retain notices required under the Strata Titles Act;
Provide copies of documents required under section 43(i)b of the Act*;
Prepare and issue section 43(c) of the Act certificates*;
Provide information as requested under section 69 of the Act*;
Maintain strata roll as required by section 35A of the Act;
Maintain AGM minute book;
Maintain correspondence file.
 
TELEPHONE COMMUNICATION
Telephone attendance for councillors;
Telephone attendance for proprietors;
Telephone attendance for contractors carrying out Strata Company business.
 
COMMON SEAL
Maintain safe custody of the common seal;
Supervise and record use of common seal.
 
ANNUAL GENERAL MEETINGS
Prepare and distribute notices of Annual General Meetings;
Attend Annual General Meetings during business hours at DSM office (Max 1 hour);
Prepare and distribute minutes of Annual General Meetings;
Arrange venue for meetings (cost of venue to be borne by Strata Company).
 
EXTRAORDINARY GENERAL MEETINGS
Prepare and distribute notices of Extraordinary General Meetings;
Attend Extraordinary General Meetings during business hours at DSM office (Max 1 hour);
Prepare and distribute minutes of Extraordinary General Meetings;
Arrange venue for meeting (cost of venue to be borne by Strata Company).
 
COMMON PROPERTY REPAIRS AND MAINTENANCE
Arrange routine day-to-day maintenance, repair and replacement of common property;
Obtain quotations for non routine maintenance, repair and replacement of common property
Provision for after-hours emergency contact telephone service.
 
BY-LAWS
Advise Strata Company Council regarding all standard by-laws;
 
Items marked ( * ) are charged in accordance with the regulations and are reimbursed by the requesting party to the Strata Company.
 


SCHEDULE B
Additional Services if Required

LEVYING
Monitor and arrange for recovery of contribution arrears
Instructions given for debt collections;
 
BUDGETS
Engage consultants (at Strata cost) to assist in preparation for sinking fund budget.
 
TAXATION
Arrange for the preparation of income tax returns;
Make an application for tax file number and ABN;
Make an application for GST registration.
 
STRATA COMPANY AUDITS
Assist auditor in providing accounts and records for audit;
Adjust year-end accounts as requested by auditor.
 
INVESTMENT OF RESERVE FUNDS
Invest excess funds at directions of Strata Company.
 
INSURANCE
Prepare and lodge Strata insurance claims, over 15 mins per claim (15min or under included in Regular Services) ;
Prepare and lodge lot proprietors’ insurance claims (15 mins per claim) ;
Prepare and lodge non-routine insurance claims
Administer claims and other activities involved in minimisation of loss, liaison with loss adjustors and other related activities after first 15 mins per claim.
Insurance company or broker with which strata manager has a commission arrangement: CHU Underwriting Agencies.
 
Diamond Strata Management are Authorised Representative No. 365765 of CHU Underwriting Agencies and an agent of the insurers, QBE Insurance (Australia) Limited and QBE Workers Compensation (NSW) Limited. CHU Underwriting Agencies Pty Ltd is a specialist strata and community title insurance intermediary and holds an Australian Financial Service Licence (AFS Licence no: 243261) with the authority to advise, deal and issue general insurance products.
As your Strata Manager we act as an Authorised Representative of CHU for arranging the insurance and receive a commission. This commission does not affect the premium you pay to the insurer.
 
MAILING AND CORRESPONDENCE
Copy and mail to proprietors newsletter etc prepared by Strata Company;
Prepare non-routine correspondence and post;
Prepare documentation for solicitors, advisors or others in relation to proceedings or matters to which Strata Company is a party;
Provide proprietors address labels.
 
MAINTAIN RECORDS OF STRATA COMPANY
Provide facilities for inspections of records under section 43(i)(b) of the Act;
 
TELEPHONE COMMUNICATION
Telephone attendance for consultants/legal advisors;
Telephone attendance for tenants/occupiers/letting and selling agents.
Manage a greater volume of inquiries from proprietors than is reasonable
 
ANNUAL GENERAL MEETINGS
Attendance at meetings at premises other than at DSM office or outside of business hours.
 
EXTRAORDINARY GENERAL MEETINGS
Attend Extraordinary General Meetings at premises other than at DSM office or outside of business hours;
 
STRATA COUNCIL MEETINGS
Prepare and distribute notices and agenda for council meetings;
Attend council meetings;
Prepare and distribute minutes of council meetings;
 
ADJOURNED MEETINGS
Prepare and distribute notices and agenda for adjourned meetings
Attend adjourned meetings;
Prepare and distribute minutes of Adjourned Meetings;
 
OTHER
Attend property at request of Strata Company
Attend conferences with solicitors, advisors or others in relation to proceedings to which the strata company is or may become a party;
 
COMMON PROPERTY MAINTENANCE
Arrange non-routine day to day maintenance, repair and replacement of common property e.g. major works, upgrades etc;
Liaise with consultants/builders regarding non-routine work to be carried out on the Property;
Attend property at request of Strata Company;
Attending property for after hours emergencies;
Attend to contract completion and signing up of sub-contractors to the Strata Company.
 
BY-LAWS
Liaise with solicitors and place instructions in accordance with resolutions for Strata Company regarding amendments to the by-laws;
Arrange drafting of By-laws, amendments to By-laws and By-law reviews.
Arrange for registration of by-laws;
Attend the Property for by-law enforcement;
Prepare and issue notices for breach of by-laws;
Prepare and lodge applications for tribunal orders, briefing lawyers and/or relevant attendances
Attend court, tribunal or mediation.
Provide copies of by-laws to councillors, proprietors, tenants and letting agents.

 

 

   

 

 

 

 

 

 

 

 

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