Building
Management Committee
Report
Management Committee
Report
What is a Building Management Committee report?
A Building Management Committee (BMC) report is generally set up to accommodate the following two situations:
- Where there is a mix of residential and retail lots in a strata complex, levies must be fairly applied. For example, ground floor retail owners are not required to contribute to the cost of lift repairs and maintenance, and residential owners are not required to contribute to the cost of rubbish removal and the cleaning of grease traps of restaurants.
- Where two or more strata buildings are constructed in close proximity to each other by the same builder at approximately the same time, stakeholders can take advantage of the economy of scale. For example, insurers and fire safety companies will generally provide cheaper premiums and servicing charges when covering two or more buildings.
Because the BMC is typically responsible for expensive repair and maintenance works to the structure of the building and services, such as insurance and fire safety, buyers should undertake an inspection of BMC records.
Therefore, it is important to ensure that special levies are not about to be imposed on individual lot owners by the BMC through the Owners Corporation.