Welcome to part nine of a ten part series discussing the most commonly misunderstood issues related to strata living.
9. Strata Management
Many investors who are new to the strata industry often don’t understand what the role of a strata manager is. It is a common misconception that the strata manager is in charge of every aspect of a scheme, when in fact they are simply there to help administer and support the scheme, providing professional advice to committees.
A good understanding of the role of strata management is useful and with this comes an understanding of the types of issues that are addressed by the strata manager.
What is strata management?
Strata management is a specialised area of property management that is frequently referred to as ‘body corporate management’. Essentially, strata management relates to the everyday operation and management of a strata scheme. In order for a strata scheme to be successfully managed, a framework for ownership and policies for management of properties is essential, and this framework is guided by the relevant State legislation.
What is the role of the strata manager?
The Strata Manager’s role is to work with the body corporate/owners corporation and to successfully control, manage, maintain and administer the property and to create an appropriate community environment. This includes tasks such as:
– General accounting
– Invoicing of levies/service charges
– Arrears collections
– Financial reporting
– Contract management
– Meeting preparation
– Communication with property stakeholders
– Coordination of maintenance tasks
– Enforcement of rules/by-laws
– Issuance of notices, orders and certificates
– General secretarial tasks
At SSKB, our experienced Community Managers understand how important it is to provide your community with professional management and successful strategies to deal with the day to day secretarial and treasurer duties and can also advise on by-laws and compliance.
We know how crucial it is to not just be minute takers and invoice issuers. Accurate and informative minutes are important, but your community needs advice, strategies and guidance to maintain your investment, increase its value and enhance your community’s reputation as a place to call home.