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Each BMS will differ in content and it's important that the person managing the BMS as well as the representatives of the BMS have an understanding of key elements (ie. shared costs, meetings (if required and if so how many), budget requirements (again if required), whom the representatives are that are nominated, so on and so forth.  

A system of keeping track of expenses and on charging, meetings, contacts and the like is a must and good communication between all parties involved in a BMS is vital.

BMS Management requires specialist services as each BMS is unique and operates differently.  Although similar to a Body Corporate, the BCCM Act 97 does not apply and therefore many Body Corporate management providers fail to correctly administer a BMS.  Some Body corporate Managers have developed a specialist team that solely manages all aspects of a BMS, from initial creation through to financial administration and dispute resolution.

 

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