We operate Single Trust Accounts for our clients’ security. These are protected by the strict Trust Account laws. As such, our Trust account operate with the following protections:
Trust accounts are a special type of bank account “where money is received or held by an agent (including any member of the agency’s staff) on behalf of another person in relation to real estate, business or settlement transaction.”
Trust accounts are governed by legislation but only strata managers in some states of Australia are required to have a trust account when holding client money. Queensland, for example are not required to hold funds in a trust account. We at SMS take the security and transparency of our client’s funds seriously and as such, have implemented the option of single trust accounts for all buildings, irrespective of their geographical location.
SMS Group has the resources and experience to look after all of your strata needs. Our strata managers will expertly manage your property and make your life easier. To achieve this we offer a wide range of professional services. These include strata advice, community management, management and administration, insurance, strata consultancy services, electronic banking, account keeping, financial presentations and trust accounts security.