STRATA DIVISION

THE COMPANY PROFILE

First Mark Realty was established in 2003 and is a privately owned and operated Real Estate business.

The strata division began in 2004 with a small portfolio of Strata Plans managed by one of the principles of the business.

By providing highly professional service and advice, the strata division has grown dramatically and now has the enviable reputation of being one of the most respected strata management offices on the western peninsular.

Our office is one stop organisation, enables the five departments of sales, rental property management, strata management, registered Valuers and finance to operate as separate units each with its own management team.

MANAGEMENT STRUCTURE

First Mark Realty Strata Management has a team of three senior managers. Personalised service is guaranteed by having each manager responsible for a small group of buildings.

The managers are responsible for the day-to-day running of their buildings, including arranging repairs and maintenance, attendance at meetings, authorising payment of accounts, and attending to all the mundane problems associated with the building.

First Mark Realty managers are professional, qualified executives with extensive experience. The management of buildings under their control is their sole occupation, it receives their undivided attention.

CLIENT SERVICES

First Mark Realty Strata Management provides management services to the Owners of:

1. Residential Strata Title Properties
2. Residential Company Title Properties
3. Mixed Commercial/Residential Complexes
4. Industrial Complexes
5. Community Schemes

For new Strata Plans, First Mark Realty will set up the books and records to comply with legal requirements, and provide management service during the initial period. Advice is also available to Developers of Strata Title properties.

SECURITY

Money held for each Strata Plan is deposited in the trust account, protected by the trust laws and random audits performed to the requirements of the Real Estate Service Council.

First Mark Realty computer systems are protected with limited access and can only be used by authorised personnel.

Our code of ethics demands that we will not disclose any personal or other information, which is confidential to the Owners Corporation, unless obliged to do so by law.

The DEFT® Way to Pay Levies

DEFT (direct electronic funds transfer) makes paying levies easier with three convenient payment options:

1. Directly from a bank account over the phone
2. In person at any Post Office
3. Mailing a cheque

INSURANCE PROTECTION

Because First Mark Realty Strata Management has dealings with all the major Insurance Companies and Brokers, we are able to obtain the best possible cover at competitive rates.

REPAIRS AND MAINTENANCE

Our Strata Managers recommend only competent, reliable service companies and trades-people.

The list is constantly checked and updated to ensure that a high standard of work and competitive prices are maintained. Buildings may also choose to engage their own trades-people.

EMERGENCY SERVICE

Owners have 24 hour a day contact with our office with referral to emergency services and trades-people.

SERVICES AND FUNCTIONS

Preparing and posting notices for all meetings, recording and distributing minutes. Attending to correspondence at the direction of the Owners Corporation. Maintaining the books and records in accordance with legal requirements. Supervising the use of the Common Seal. Preparing and lodging insurance claims for those items claimable under the Insurance Policy. Preparing books and records for inspection by authorised personnel.

SERVICES AND FUNCTIONS

Preparing and distributing levy notices to each Owner. Receiving levy monies into the Trust Account. Forwarding reminder notices to those Owners in arrears or, at the direction of the Owners Corporation, arranging legal action for the collection of overdue levies. Investing surplus Administrative and Sinking Fund monies into an approved interest bearing account. Preparation and lodging of Taxation Returns for income earned by the Owners Corporation. Preparation of annual budgets for the Administrative and Sinking Funds. Preparation and distribution of quarterly Financial Reports to Executive Committee members. Authorised accounts are processed weekly ensuring the reports reflect the most up to date status of the buildings finances.

Administration

Arranging repairs and maintenance of the common property and obtaining quotations for replacement of property as required. Making applications and submissions to the Strata Titles Commissioner and other government authorities. Providing professional guidance and assistance to the Owners Corporation and the Executive Committee. Perform clerical functions resulting from decisions of the Owners Corporation.

FINANCIAL REPORTS

Detailed and easily read quarterly Financial Reports are produced for each Strata Plan. The Strata Managers have access to computer information and can immediately provide details of levy receipts and amounts outstanding, individual items of income and expenditure plus balances of accounts for money held.

Reports for Each Strata Plan Include

For each unit, the quarterly levy amount determined and paid, date to which levies are paid, interest due and collected. Individual items of income and expenditure with the date of receipt or payment. Cash flow analysis by quarter and year to date comparing items of income and expenditure to budgets and the previous year. Summary of surplus or deficit, balance sheet, cash and investment account details.

Our Specialties

As far as we are aware, we are the only company that offers all of the following: