Strata management has long been a topic of confusion for strata property owners and tenants alike. But it is increasingly becoming more complex as building systems evolve.
There are more components to manage, more regulations that require compliance, and the need to ensure buildings and building environments are environmentally friendly.
Thus, Strata building managers take on a substantial amount of responsibility to ensure the strata is properly managed on a day-to-day basis for the interest of all strata owners.
If you are a strata owner or representing an owner corporation as part of the executive committee. And you are unsure of the services you require or don’t know what to expect from your strata building manager. We have filled in the details for you below:
What Does Strata Management Cover?
Strata Owners, both landlords and tenant co-owner should understand what building management covers to get a good grasp of some fundamentals of strata management.
Strata Management covers the management of common property, physically, socially, financially. It includes administrative tasks like handling all building correspondence, delegating maintenance roles to ensure the upkeep of the common property. Taking care of insurance claims, and acting as a mediator between owners and tenants. It also includes financial responsibilities like budgeting, invoice monitoring, and ensuring annual arrears payments.
The social aspects include creating and enforcing rules and regulations based on executive committee resolutions–mediating disputes between owners, sharing information, organising events, and listening to feedback from tenants in a shared property. To ensure the strata is properly managed accordingly it is important to appoint or hire a professional Strata building manager. One that can oversee the strata management services of common properties in a strata title.
Strata Management Roles And Responsibility
Any strata manager you hire as an owner’s corporation should fulfil the following roles listed below:
Administrative Roles And Responsibilities
The strata manager oversees the day-to-day operations of several jointly owned properties which includes:
- Handling all Property correspondence on maintenances, meetings, owner’s levies, and other general information.
- Delegating responsibility to property managers and building managers
- Resolving queries from intending strata property buyers
- Taking care of insurance claims and monitoring the receipt of incoming funds.
- Active Documentation of all records and archiving older records.
- Acting as a chairperson under the request of the owner’s corporation
Financial Roles And Responsibilities
- Monitoring Invoices, making payments on time, and ensuring all funds in arrears are paid before deadlines
- Preparing and presenting financial budgets to the owner’s corporation
- Ensuring strata owner’s levies, including administrative funds and/or sinking funds are paid on time.
Maintenance Role And Responsibilities
The ideal strata manager will be an experienced strata management services expert and is not required to have technical knowledge for an active maintenance role. But is required to expertly delegate strata building maintenance aspects of the owner’s property to ensure the comfort of owners and tenants.</p
- Ensure the residents of a strata property are living comfortably.
- Receive queries for repairs, collect quotes from contractors to maintain the common property with the executive committee’ approval
- Approve varying maintenance decisions from property and building managers with or without executive committee approval.
- Ensures compliance to applicable laws, rules, and regulations of the common property
- Ensure necessary strata cleaning services, garden maintenance, and other maintenance services are available to owners in common property
Social Role And Responsibilities
The strata manager is responsible for interpersonal relations between all stakeholders in a strata scheme;
- Creating rules that govern the cohabitation of owners in a strata scheme based on executive committee resolutions.
- Enforcing the rules to ensure compliance
- Resolving disputes between strata property owners in an impartial way (the strata manager is not allowed to own property in given strata to avoid conflict of interest)
- Sharing information between lot owners and organising events
- Listening to and acting on feedback from residents to improve the general state of the strata.
- Serving notices to the owners and residents in the strata scheme
What To Expect From Your Strata Building Manager?
Now that you are aware of the roles and responsibilities of a strata building manager, you have a slight idea of what to expect from a strata manager.
Expect your strata building manager to actively monitor the state of common property and provide advice on legislation, work health, and safety that serves the interest of the owner’s corporation.
To serve as an impartial mediator that can readily resolve disagreements, transmit opinions and conduct civil discussions in a strata scheme.
To handle all record-keeping activities, correspondence, serve notices for meetings and document all agendas for future use in the strata scheme.
To coordinate maintenance activities, manage the procurement of contractors, issue work orders on behalf of the owner’s corporation, and ensure that the integrity of the common property is upheld at all times
To increase the value of the strata scheme and property through effective leadership, continuous support and prudent services to the best of their ability.
In Closing
Effective Strata management will always make the difference between a failing strata scheme and a valuable and thriving one.
So, knowing what to expect from your strata manager will help you appoint and hire someone capable, responsive, and professional. And someone who will continue to work in the best interest of the owner’s corporation.
Your strata manager should happily take on their ideal roles and responsibility and should be your go-to contact for information, feedback, and advice. Your strata manager should make living in a strata scheme easy for you.
They should simplify all the complexities of living in a strata scheme and should always be on top of everything that is required.
We are certain you will make the right decision if and when you choose to hire a Sydney strata specialist or a strata management company.
