What did Resi Body Corporate change in the first 6 months?
Financial review saved owners $3,500
Because no owners attended the previous annual general meetings, there was no opportunity for owners to scrutinize and review the financial information and statements of the body corporate. The Resi manager quickly noticed significant fees were paid for the common water bills, which was odd given there were no common water taps.
After some investigation by a plumber, it was discovered that the water meter for one of the units was faulty. The faulty water meter resulted in the owners corporation paying for the water usage for one townhouse.
Resi Body Corporate negotiated a refund from South East water of over $3,500.
Appointment of Committee
Owners were now able to attend AGMs held at the Resi offices less than half an hour from the property, and a Committee was appointed for the first time since the development was built a few years ago.
Having a Committee in place meant that there was a group of owners who were able to make decisions on improvements or repairs on behalf of the owners corporation.