Strata Management Practice Standard
To date there is no prescribed licensing of strata managers or strata management businesses in Western Australia. It is currently a voluntary self-regulated process to ensure professionalism. Until such time as there is a unified Australian industry approved strata management model or ideally a prescribed model of rules and regulations pertaining to strata management, Bellcourt has prepared and adopted a Strata Management Practice Standards (SPS) as industry best practice.
The SPS forms part of Bellcourt’s employee engagement contract requirements and helps ensure that our employees have a clear understanding of our business performance expectations. It also details how Bellcourt can support our employees when working within such challenging industry.
The primary purpose for Bellcourt adopting and implementing the SPS is that it gives our strata companies and clients a level of assurance that the service they receive is best practice and that it is industry leading. The SPS sets a benchmark and provides a professional, predictable and reliable level of customer service that is documented. It can be easily referred to and subsequently monitored to ensure Bellcourt is delivering the promised services to their strata companies and clients.
As part of implementing the business accreditation standard, there are a number of key policies and procedures that Bellcourt needs to adopt and implement, including:
- Keeps client funds in separate client accounts which are subject to an annual audit by a registered, independent accountant;
- Clear education pathway for all employees, with the goal of all Strata Managers achieving a Level II SCA Accreditation within the first four years of commencing employment with Bellcourt and ensuring a continuing education platform is provided;
- All strata companies must have a signed management agreement, with a wet signature at least every five years;
- Cyber security management process;
- Adheres to the SCA Code of Conduct and relevant State based legislation;
- Maintains a minimum Professional Indemnity of $5mill.