MMP221 - Property Management - Trimester 2 - Owners Corporations - Report Writing Assessment Answer

MMP221 - Property Management - Trimester 2 - Owners Corporations - Report Writing Assessment Answer

Task:

Unit Learning Outcome (ULO)

ULO1: Describe and apply the rules, regulations and legislation associated with property management
ULO2 Explain the importance of ethical and professional conduct and sustainability practices as they apply to the property management profession

Report Research
1. Identify and access a copy of the Model Rules for an Owners Corporation (2007) in Victoria and as necessary obtain further information from the OC Act 2006 in relation to allowed behaviours by tenants and how the Act requires the OC to deal with the problems.
2. Section 23 of the Owners Corporations Act 2006 states that an Owners Corporation may set annual fees to cover general administration, maintenance and repairs, insurance and other recurrent obligations of the Owners Corporation.
a. You are to research and identify Section 23 of the Owners Corporations Act 2006
b. You are to research and identify the definition of Lot Entitlement and Lot Liability within the Act.
c. The Act does not mandate any basis on which Lot Entitlement and Lot Liability are to be established, and this is left to the developer and surveyor to determine, usually on an arbitrary basis. As OC Fees are apportioned according to Lot Liability, perceived inequities in this schedule are frequently the cause of disputes within an Owners Corporation. You are asked by the Committee to provide your analysis of the basis upon which the Lot Liabilities have been apportioned in this case as there is growing concern that they are inequitable and unfair. Refer to the Assignment notes.

1. LOT LIABILITY SCHEDULE 
Lot liability determines the share of expenses paid by each owner. Some owners pay more in OC Fees and other owners pay less. Some of the owners don’t understand this. Write a brief report on Lot Liability which explains why this is so. Importantly the Owners Corporations Act is silent on how Lot Liability should be determined. The best guide is provided by Strata Community Australia (SCA) the industry’s peak industry body. Their recommendation is to apportion Lot Liability on one of the following bases:

2. STRUCTURE OF REPORT
Your report that will be provided to owners at the Owners’ Corporation AGM must be a business report that has the following elements:
Style – Your assignment must comply with the formal report style. This means that you need to devise section headings appropriate to the material you will cover. If you don’t know what an Executive Summary and a Letter of Transmittal is, please check online, so you know what format it should take.

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