Have you just started living in a strata property? Are you clueless about how to manage everything? Not to worry. You’re not alone in thinking strata management is rocket science. The good news is, it is not. You simply need a strata management company. These companies appoint strata managers to look after your needs. Still, there will be a lot of work that does not come under the purview of strata specialists. What else do you need? A property manager and a building manager. Confused further? Let’s see how they are different from each other to get rid of confusion.
Strata Manager
The owner’s corporation or a body corporate of a strata scheme appoints a licensed strata manager or body corporate manager. He/she looks after the day-to-day management of the building. Think strata cleaning services, strata garden maintenance, pool maintenance, the foyer, stairs and hallways. In short, a strata manager takes care of all common areas of a property.
But strata management doesn’t end there. The strata manager’s job could be classified into three categories: administration, finance and community. Let’s delve deeper into how a strata manager works.
Administration
Who will convene the AGM of owners? Strata manager will. Keeping the owners in touch is also his/her job. In case there is a prospective buyer, the strata manager has to handle correspondence with him/her, too.
Correct valuation of the property is also part of the strata manager’s brief. You don’t want to cough up a lot of money if a car accidentally rams into the boundary wall of your scheme. But if your property insurance doesn’t cover for full replacement cost, you will have to. This is where strata management shows its value. The strata manager ensures the insurance amount is enough.
Finance
The strata manager is there so that you don’t have to keep track of paying third party contractors involved in strata building maintenance or similar work. He/she will also collect periodic levies from owners in the scheme. What’s more, you don’t even have to think about balancing the books. The strata manager will double up as the accountant.
Community
Perhaps the most challenging part of strata management is managing the community. Here the strata manager is a psychologist, a peacemaker and a problem-solver rolled into one. If one owner can’t park his/her car because another park his/hers at an odd place, the strata manager has to step in. If two owners just can’t get along and are coming to blows, the strata manager has to play the pacifier. When things turn much more serious and attempt at mediation do not succeed, strata managers can escalate concerns to a state-level, civil tribunal. A bylaw breaker owner/tenant is also a strata manager’s problem. Isn’t that reassuring?
There are laws in place to ensure schemes don’t impose draconian bylaws like banning babies or assistance animals. Strata managers are there to ensure everyone follows the rest of the community standards.
For strata management services across the Sydney basin and Central Coast areas, contact Clean Green Strata, Sydney strata specialists
Property Manager
If a strata manager takes care of your daily worries, the property manager is the one you need to ensure the well-being of your property. Strata managers work in strata management companies, while property managers work in real estate companies.
The property manager works as a bridge between landlords and tenants. Owners corporation appoints strata managers but you appoint your own property managers.
He/she will market your property, find suitable tenants for you and manage the leasing contract. He/she will also collect rents when it’s time. Don’t worry about your tenants damaging the precious vase your parents brought from Europe. The property manager will run regular checks and ensure everything remains the same. Not just the fancy, he will also look after the essentials. The fire alarm for example.
You may not be interested in a property manager if you are a landlord. But many landlords feel more comfortable if they have one. It frees them of many small responsibilities that otherwise claim a lot of one’s time and energy.
And if you’re a tenant, the property manager is your go-to man. If the tenant has a strata-related issue, the property manager will take that up with the strata manager or owner. He/she will also manage move outs, bond evaluations and evictions.
Building Manager
Wondering if you still need a building manager? The answer is yes. Because they handle daily trades persons, access control, defects issues, making sure the cleaning and gardening scope is being followed, minor repairs, taking requests from stake-holders and preparing reports. Caretaker, building manager or facilities manager — call him/her what you will. It’s difficult to spend a day without somebody like that.
From asset register to preventive maintenance schedule — the building manager makes and maintains everything. He/she is such a multi-tasker that he is hanging up an important notice now, and issuing work orders to contractors the next moment. He also verifies their invoices. In fact, he/she keeps all records regarding services, costs and expenditures from third parties.
If you find some contractor didn’t have an insurance certificate or proper licence, you know who to blame. Getting those documents and keeping them as the record is the building manager’s duty.
There is another important side to this job. The building manager manages short stay accommodation, security and postal deliveries. He has to keep keys to apartments/lots, swipes and remotes as well.
In short, if you are a strata owner and want to be free of worries, decide carefully. Appoint a strata manager, property manager or building manager according to your need. You may even need all three. A strata scheme that does not recruit a strata management company, is a self-managed unit. Why self-manage? Just enjoy living and leave the rest to professionals.
