There is a lot of work to be done when it comes to the daily administration and financial aspects of a strata complex. This is something that the owners are not able to manage as they don’t have time for the daily minutiae of the complex. This is why there are many strata management companies providing these services in order to ensure the smooth working of the schemes.
There are many legal requirements and by-laws that need to be heeded when it comes to managing a strata scheme. It is not required to hire a professional strata manager but there are many benefits to doing so. You can also get news and information about certain strata management services when you visit the official websites of a few companies. The services offered will vary according to the types of schemes they focus on. A strata manager has the right knowledge and experience in understanding the requirements of strata schemes. They are appointed by the owners’ corporation. Most of the time, strata owners will not have a lot of knowledge about the legalities of owning a strata scheme. But a specialised management company will be up to date on this type of knowledge. They will have a good understanding of the legislative side and they will keep up to date with any changes or modifications to the by-laws and keep you informed of any news of relevance. And this can take a lot of worry off the shoulders of the owners.
The owners don’t have to spend time going over the information of complex legislation and regulations. There is also a lot of background knowledge that is required to process this information. Therefore, the strata management company is better suited to providing these services. You can ask the strata management company about the minimum years of experience they require of their managers. This will also give you an idea of whether they are suited to managing the needs of your scheme. And in addition to the legislative side, there is the financial aspect of the strata scheme to be considered. The owners have a vested interest in the property and most of the time, they will take emotional decisions when it comes to finance matters. But a strata manager is able to remain impartial and be able to provide objective financial advice. This gives an unbiased voice for the owners to rely on. And what this does is reduce disputes within the owners’ corporation. They will be able to provide accurate facts when it comes to certain financial matters so that the owners are able to get a clear understanding of the matter.
There is one point of contact when it comes to communication when you have a strata manager. This will be the person contacted by the owners and the residents. Having one point of contact ensures that information is provided by one trusted source and reduces the chances of misunderstandings and mixed messages. They will also ensure that communication is sent out to all the owners whether it is financial records, meeting minutes, maintenance updates etc. so that everyone is properly informed.