Eco-friendly business practices are becoming more popular every year. A growing number of consumers are expressing an interest in buying products from sustainable brands. However, there are a lot of companies that don’t brand themselves for sustainable practices very well.
If you want to make sustainability a priority, then you should consider the benefits of running an owners’ corporation. There are a lot of great reasons to use an owners’ corporation to improve sustainability.
Using an Owners’ Corporation to Further Green Business Initiatives
Maintaining harmony and organization in any large group is as complex as it is difficult. When it comes to owners’ corporations, the management and administration of residential or commercial spaces are no different. This is especially important for sustainable businesses, as the owners corporation that is in charge of your common property is an essential factor in maintaining order and ensuring that you are receiving the benefits and entitlements that you are due. This minimizes influence from companies without a commitment to sustainability.
In some cases, it is necessary to switch owners’ corporations and owners corporation managers in Melbourne. Knowing when it is appropriate or necessary to do this will help your owners corporation stay organised and efficient in apportioning the benefits of the community to each of its members. The first step to take is to be aware of some of the occasions when this may be necessary.
Of course, this doesn’t mean that you can’t learn from other brands on sustainability. Entrepreneur.com published an article on things small companies can learn from big companies on sustainability. However, you should maintain autonomy if this is a priority.
Let’s look at some of the things to be aware of in order to know when it is time to change owner corporations for your green business.
Repairs Are Not Being Completed
One of the important responsibilities of an owner corporation is to ensure that repairs and maintenance of common property are completed in a timely and agreed-upon matter. If communication is breaking down about repairs, or if they are simply not being done, then the owner corporation is failing its members. It is important to find an owner corporation that takes on these responsibilities and completes maintenance tasks as a matter of course.
Records Are In Disarray
Another essential responsibility of an owner corporation is to ensure that financial and administrative records are kept in good order. If you discover that no such records are being kept or if there are serious errors in your financial reporting, then you need to consider a change. Financial mismanagement creates many problems when it comes to managing collective property, so be sure to find an owner corporation that takes this seriously.
No Grievance Procedure
It is important that each member of an owner corporation has a voice or, at least, a means of voicing a grievance with anything relating to the common property in question. Without such a procedure, there is no effective channel for complaints or queries to reach the ears of the person or people responsible. Since there are legally defined responsibilities when it comes to an owner corporation, it is important to take these matters seriously as well.
Many owner corporations charge too much to fulfil their responsibilities. In these cases, it may be necessary for the members of the community to change to a more affordable owner corporation. If this is an issue in your community, then a vote through an annual general meeting will usually be required. If enough members of the community agree, then you will be able to switch to a more affordable option. Remember that you will usually be required to formally notify your current owner corporation to inform them about your decision.
Not Compliant With Relevant Owners Corporation Act
If you feel that your current owner corporation is actively breaking the rules and regulations outlined in the relevant legislation in your jurisdiction, then you will have grounds for making a switch.
Manage Your Common Property Effectively
Being aware of the circumstances outlined here will help you to be more conscious of when it is time to change owners corporations. The benefits of better organisation and administration for your residential or commercial space are readily apparent. It is up to you and your fellow community members to make the best decision over who handles these benefits for you.
Your Green Business Can Thrive as an Owners Corporation
There are a lot of great reasons to use an owners’ corporation as a green business. However, you need to be strategic about it. You should follow the outline above to make the most of your sustainable initiatives.