What do you get in a Building Membership?
We support your committee to represent the body corporate of owners, as it is by law required to do.
Sometimes, the issues confronted by volunteer committees are complex and support is needed from experienced and like minded individuals to navigate a way through. This is where the Building Membership package comes in.
By becoming a building member, the UOAQ sorts house by introducing opportunities for your building by:
- Higher Interest rates on Bank Working Accounts;
- Discounted Insurance arrangements;
- Assistance in tendering for Body Corporate Management Services;
- Ability to enter group tendering for building services.
- Provide strategies and assistance with a range of body corporate committee issues from a pool of experienced volunteers who have been where you are;
- Recommend experts to assist further with issues that can’t be resolved with the assistance of a UOAQ volunteer.
Your lot owners may also request a discount on their own Individual Membership for the duration of the Building Membership.
What does it cost?
We have two membership options that serve both big and small strata schemes, the ‘small’ building that has 50 lots or less and our ‘big’ building membership for those strata’s that have more than 50 lots.
Step ONE: YOU PAY Membership fees to join
To obtain your Building Membership, determine whether you are a small building or big building and purchase the relevant membership online.
The small building membership fee is $500 per annum.
The big building membership fee is $10 per lot per annum. When purchasing the big building membership you will need to specify how many lots you have in your building in the quantity field when making your purchase. For example, if you have 80 lots, then purchase 80 big building per lot memberships as these are sold on per lot per annum basis.
Step TWO: WE PAY the money back guarantee**
If you purchase a second year of Building Membership, then your building memberships comes with a money back guarantee for the full first year building membership fee if we are unable to procure savings (including future savings) for your building at least equal to the cost of your building membership for the first year by the end of the second year of membership!
Step THREE: YOU PAY the savings bonus
If we are able to deliver and quantify savings to your building through the Building Membership program, you pay a savings bonus of 20% of those savings to us and keep 80% of those savings for the period under calculation. We will invoice you separately for the savings bonus. For example, if you save on insurance premiums for the next year we will invoice you 20% of the savings for that period. For years after that, you keep 100% of those savings. Or if a lift maintenance contract is re-negotiated for a new multi-year period by a consultant engaged by you which we introduced we will only invoice you for 20% of savings during that new period.
This means that we never invoice you for savings that are not quantifiable and we agree with you whether to invoice monthly or quarterly to suit your cashflow.
The savings bonus of 20% applies to quantifiable savings delivered to your building through the Building Membership program. 100% of the savings bonus is contributed to fund the operations of the UOAQ in serving its members.
In other words…
If we cannot deliver quantifiable savings through the program, the savings bonus will not apply. If we can, then you retain the benefit of 80% of those savings and know that the other 20% paid to us as a commission on savings will contribute to serving members of the association into the future.
And if we can’t deliver savings at least equal to your first year membership flat fee by the end of the second year, then we will return that flat fee for the first year to you.
** To be eligible for this offer your building must implement a cash flow management strategy – at absolutely no extra cost for this service. Please also see potential Financial Benefits Explained for further details.