The following questions and answers may help you to understand Propis (Property Investment Services Pty Ltd) and our services further.
Currently, our owners corporations fee notices include Administration Fund contributions and Maintenance Fund contributions.
We believe that our fees reflect the expectation of the general public as to what a fair Rate is for work performed. Property Investment Services Pty Ltd do not use the OCV Contract of Appointment. Mr Mermelstein has the expertise to prepare contracts that are favourable to both parties.
We have facilities to support any type of meetings for owners corporations at our office free of charge. Our meeting room offers 12 seats. If more attendees are expected our office can arrange alternative meeting venues for the owners corporations at a reasonable cost.
Since the company was established in 1982.
We invoice the difference arising between the previous and new budgets in the remaining quarters of the new financial year.
The Company employs 5 staff members including the Principal, Mr Norman Mermelstein
Due to our joint experience in property management and law, our services were quickly utilised in 3 owners corporations over the past year. These owners corporations’ existing Plans of Subdivision did not allow for the fair and true running costs to each owner. Property Investment Services Pty Ltd was instrumental in convening meetings to change the owners corporations requirements where service costs could be fairly distributed to the owners actually using the services. Linda Micallef introduced auditing process of air-conditioning services at two Kew properties. The owners corporations were incurring high costs due to the fault of the development. Linda took on this mammoth task in an effort to reduce the owners corporations’ air-conditioning maintenance costs to a more acceptable level.
Property Investment Services Pty Ltd provides payment options of EFT, cheque and in person at any Westpac branches. We also offer the option to email fee notices to owners.
Section 69 of the Owners Corporations Act 2006 requests that an Annual General Meeting must be held within 15 months of the last meeting. However, there is no provision in the Act controlling the financial year-end for an Owners Corporation.
At Property Investment Services Pty Ltd we use 30 June as financial year-end for all our clients. This is much appreciated by commercial property owners.
The Principal of Property Investment Services Pty Ltd is a Barrister Solicitor specialising in Owners Corporation laws. Legal advice, often at no cost to the Owners Corporation is readily available. Both Norman and Linda are extremely knowledgeable in real estate industry. Norman is a fully licenced real estate agent with many memberships in affiliated associations. Linda held a full real Estate License since 1988 but voluntarily surrendered it in 2007. This level of experience allows Property Investment Services Pty Ltd to assist many lot owners in all areas of property management, including leasing and sale.
Our team is very capable of handling any enquiry from any owner. Please refer to Page 10 – 14 in this proposal for further information.
All our Annual General Meetings are held between August and November.
Each Owners Corporation under our care has its private bank and investment accounts.