A A A

You must be registered and logged in to reply to posts or post new topics. Click on "How to Use This Forum" for simple instructions on how to get on board. NB: Please do not use your real name or email address as your screen name - if you do it will be changed to something less insecure.

Avatar

Please consider registering
Guest

Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

Register Lost password?
sp_Feed sp_PrintTopic sp_TopicIcon
Queensland's Corrupt System of Management Rights-who benefits?
Avatar
zerobullying
FlatChatter
Members
Forum Posts: 14
Member Since:
13/07/2017
sp_UserOfflineSmall Offline
1
14/09/2018 - 6:55 am
sp_Permalink sp_Print sp_EditHistory

Jimmy commented on another thread:

‘Queensland caretakers are a protected species under the fundamentally corrupt system that pre-sells management rights … by virtue of a process designed with the sole intent of putting more money into developers pockets…” 

Well, who Benefits from this corrupt system of selling Management Rights?

1. Owners are ‘stuck ‘with Caretakers who buy Management Rights for up to 25 years by virtue of the contract, 

2. Once a few years have passed, the Caretaker seeks an ‘extension’ of another 5 years or more (a top-up), 

3. Extending Management Rights gives good and bad Caretakers a ‘job for life,’ 

4. Owners who know diddly squat vote YES to give an extension without knowing what they are voting for, 

5. Our levies continue to rise as Management Rights contracts document an annual increase for Caretakers, 

6. Caretakers earn annual income off ”Owners money,” and rental commissions off ”Investor owners” properties, 

7. Then Body Corp Managers (BCMs) also find ways of making a bigger income off ”Owners money,” 

8. BCMs who don’t know the Act, or who turn a blind eye enable committees to develop poor decision making, 

9. Poor decision making leads to disputes, which leads to adjudications, which leads to more money for BCMs, and sometimes this poor decision making is intentional because BCMs can charge for additional management fees, disbursements, legals etc, 

10. BCMs in Qld work in an ‘unregulated’ industry so they aren’t accountable to anyone except Owners, 

11. So, the question: Who benefits from this corrupt system of Management Rights?

Answer: Caretakers and BCMS.

12. Question: Who pays for everything?

Answer: “Owners!”

13. Question: What does the Act say about this corrupt system? 

Answer: Nothing, as the Act supports the selling of Management Rights!

14. Are Caretakers and BCMs working together to rip Owners off?

CHECK YOUR EOY FINANCIALS AND BUDGETS – AND DECIDE! DO YOUR DUE DILIGENCE!

Q: Does everyone is Queensland feel peeved about this corrupt system where Owners pay for everything?

Q: Are we happy that the only benefactors are the Caretakers and Body Corp Managers?

Q: What is the solution? Is there a solution?

Q: Will the Attorney General listen to Queenslanders and change the Act?

Let’s discuss this…

Forum Timezone: Australia/Sydney

Most Users Ever Online: 518

Currently Online:
26 Guest(s)

Currently Browsing this Page:
1 Guest(s)

Top Posters:

Whale: 1584

kiwipaul: 584

struggler: 458

Austman: 340

Millie: 211

Billen Ben: 205

Cosmo: 193

considerate band fair: 160

Boronia: 141

FlatChatFan: 140

Newest Members:

joimik

EmmaFisher

bokay

fehs

potofgold

Sanctuary

peter Kennedy-Smith

Marnieg

warrawilla

mikeknox

Forum Stats:

Groups: 3

Forums: 40

Topics: 4835

Posts: 23086

 

Member Stats:

Guest Posters: 243

Members: 5537

Moderators: 6

Admins: 1

Administrators: JimmyT

Moderators: Sir Humphrey, scotlandx, Christopher Jones, Lady Penelope, Stratabox.com.au, Jimmy-T