How an Owners Corporation Manager can assist with your Build to rent project
With more and more Developers turning their minds to the build-to-rent (BTR) model, the question we keep getting asked is, ‘how can you help? It might seem obvious that the need to appoint an Owners Corporation Manager (OCM) is removed, given there will either be no Owners Corporation, or an Owners Corporation owned entirely by one party, at the end of the project. However, bringing on the specialised expertise of an OCM can help set your BTR project up for success, and ensure it continues to run optimally, long after tenants have settled in. Generally, an Owners Corporation Manager, or ‘Build to Rent Manager’ in these projects, would act as the representative of the Owner, working alongside the appointed leasing agent, property manager and/or building manager to ensure the building runs smoothly. So, what are the key areas an OCM can provide support in? And why does it pay to appoint an OCM to your Build to rent project? Establishing a realistic budget Setting a budge...