Strata management is the management of residential properties that are located throughout a region. Strata Management Companies Perth usually deal with properties that have not been sold and those still in the process of being sold. Most strata management companies employ a network of qualified sales agents to help with the sale of properties and to ensure that properties are sold promptly. The main aim of strata management companies is to ensure that the strata fees paid are collected timely and are in line with the strata plan agreed upon in the strata plan conference.
What is Strata?
Strata is a property ownership concept that allows individuals to own property sections or land ownership while sharing ownership of others.
Strata management companies offer clear channels to resolve disputes and increase conciliations between residents and owners. These managers are initially in place to watch over everything and ensure that all individuals are pulling their weight and adhering to the rules in the strata agreement. Over time, as the strata plan is implemented, the management companies can expand their remit to include commercial properties. In this way, the commercial properties that strata management companies manage will be responsible for maintaining the properties in good condition, within the stipulated budget. This is an added incentive for investors to choose to invest in commercial properties.
Although some strata corporation management companies may not wish to deal with commercial properties, others are very open to working with a property owner that wishes to sell a piece of property. When a property owner decides to sell their strata corporation membership, they can use the strata corporation as leverage to negotiate a better price on the selling of the property. Suppose the strata corporation that is involved in the transaction is successful in dealing with a better price. In that case, the buyer of the house or apartment will save money on the purchase price and save money on the ongoing strata fees.
Strata Manager and Property Manager’s Duties and Responsibilities
Perth Property Managers and Strata Managers are two different types of professionals that handle the management of residential properties. The difference is in their focus.
The property manager’s responsibilities are:
- In charge of maintaining the property and overseeing its day-to-day operations.
- Managing the property
- Collecting rent and making sure it is paid on time
- Keeping an eye out for any damages to the property that needs fixing
- Checking in with tenants to make sure they are satisfied with their living situation
- Communicating with landlords about any issues or concerns they may have about their property
- Making repairs as needed when things break down or get damaged
The strata manager’s responsibilities are:
- Manage all aspects of a building’s operation and usually serve as an intermediary between owners or tenants and trades people who enter their units to perform work.
- Communicate with the strata council
- Communicate with other strata managers
- Keep records of correspondence and meetings
- Provide annual financial statements to the owner’s corporation
- Maintain a list of all owners corporations, their contact information, and building addresses for sending notices or legal papers when necessary
- Perform regular inspections of common property and buildings to ensure they are in good condition
