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Types of Schemes

Building Management Groups

 

In recent years many larger strata developments have seen the introduction of areas designed for specific purposes and usage.  For example schemes may include residential, commercial, and retail lots within the one complex.  This type of development can provide many advantages to those involved and many management challenges also.  Each group has its own specific objectives and goals.  The members of each group are represented by an individual.  The representatives collectively form what is known as a Building Management Group (BMG).  To ensure the best possible outcome for all parties and effective management of the scheme the BMG is guided by the Building Management Statement (BMS).

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Commercial Schemes

 

There are a wide range of commercial strata scheme types within Australia.  Some examples include large car parks, office complexes, shopping centres, business parks, and medical centres.  Commercial strata schemes have distinctive management requirements.  Specialist knowledge and expertise are essential.  Leading strata manages to ensure they are conversant with the latest legislative changes and keep abreast of industry developments.  Successful management also requires a thorough understanding of each stakeholder’s involvement and role in all aspects of the administration, operations, and ownership of commercial schemes.

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Company Title Schemes

A Company Title scheme exists where a company owns the entire building or site and common property.  Occupiers have exclusive use of units/land and shared use of the common property.  Each occupier becomes a shareholder/member of the company upon purchase of the unit/land.  Each company drafts the Articles of Association, also known as a Constitution, which forms a contract between the company and its shareholders/members.  The Constitution regulates the relationship between the company and its shareholders/members (subject to the Corporations Act 2001).

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Mixed-Use Developments

 

Mixed-use developments are defined as multi-use, multi-purpose buildings that physically and functionally provide space to integrate residential, commercial, cultural, institutional, and industrial uses. For instance, a building may include retail stores on the ground level, offices on the second level, and residences on all the levels above.

Most mixed-use developments are by nature large and complex. In order to successfully manage these types of schemes a Building Management Statement (BMS) is often adopted.  These types of schemes also require input from a team of specialists including an experienced strata manager, qualified accountant, and competent onsite manager.  Often these schemes also call for input from lawyers with strata industry expertise to assist with legislative management issues. 

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Over 50s & Retirement Communities

The changing demographics in Australia have seen a significant increase in demand for over 50s and retirement communities. This current growth is expected to continue as people live longer and seek convenient living solutions to offer them a lifestyle they desire. How these communities are managed vary with many now operating under strata title. Strata title includes a body corporate and a village operator as well as adhering to state legislation for this type of property ownership.

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Tel: 1300 217 388 Address: PO Box 8205, Gold Coast MC, Qld 9726

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