ARAMA PRESS RELEASE APRIL
YOUR ROLE IN THE TRIANGLE OF MANAGEMENT
While some body corporate (or owners corporation) committees are viewing the current environment as a timely opportunity to bring forward planned renovation works, others are watching cash flow closely.
Any professional service provider in the management rights industry will tell you that there is no single playbook for effectively navigating the current health and economic crisis, because there is no single problem. Every scheme is different with its own unique challenges.
However, with intimate knowledge of community title schemes and their various stakeholders, there is no better time for resident managers to show their true value in working with committees to provide advice and options that are in the best interests of the complex.
Effective working relationships with the body corporate committee and body corporate manager are critical in doing this – and the current environment presents resident managers with the opportunity to strengthen the foundations of this “triangle of management” now and into the future.
A resident manager’s role within this relationship can set the tone of the building. In a time of uncertainty, people are seeking clarity and reassurance - and no one is better positioned to offer this than the on-site manager with their depth of operational understanding and experience.
They are not only working with committees to provide caretaking services, but they are also dealing with owners, residents and tenants who may be experiencing financial hardship with concerns about paying levies, mortgages or rent respectively.
Now is a golden opportunity to demonstrate the benefits of management rights in effectively serving the interest of all stakeholders.
Experienced operators are working with the committee to diagnose current and future issues and offering solutions to navigate them in the best interest of the complex. Their ability to provide strategic advice in testing times is reflecting of their essential role in the complex.
In light of the current environment, this might mean identify cost efficiencies, facilitating the timely and accurate dissemination of information, or escalating renovation works while the complex experiences a quiet period or closed common areas.
Making decisions that are ‘best for building’ will go a long way towards building good relationships with key stakeholders – and your reliability and commitment to the complex now will translate into integrity and trust for years to come.
Importantly, resident managers have to visibly demonstrate to committees, owners and residents the value they are providing at this time. This is an area even the most experienced operators have found challenging in the past but which is so important.
It has been encouraging and rewarding to see how we have successfully come together as an industry to support each other and to watch this translate into stronger stakeholder relationships.
In the last two months we have seen a sharp rise in memberships which is reflective of our industry’s eagerness to learn, develop and continue to play our important role in community tile schemes – and I encourage everyone to continue to tune in to our weekly webinar series.
As we emerge from this crisis, I have no doubt that the management rights industry will have far greater visibility in the tourism and accommodation sector and that the role of resident managers will be stronger than ever.