I'm sure you've heard of strata schemes by now, but what exactly is a strata manager, and what do they do? As a strata owner, it's important to understand the role of the strata manager and what services they provide to ensure that your investment is being managed effectively. In this blog post, we'll outline the roles of the strata manager and explain what services they provide. We'll also discuss some tips on how to find a strata manager. Read on for more information!
The strata manager is the person who manages the owner's corporation of a building or community title scheme. They manage daily tasks such as collecting and depositing fees, issuing parking permits, arranging committee meeting agendas and notices to members, allocating car spaces to apartment owners, and preparing meeting minutes.
They are involved in every aspect of the building's management and are seen as authority figures for matters relating to the strata scheme.
If you plan to find s strata manager for your property, the first step is to get all of the relevant documentation together. This includes current service contracts that any service providers may be running at your property or any changes to insurance policies that will impact your strata management fees (insurance premiums). Ensure
that all documents are current, accurate and that you have a copy of each for yourself.
Speak with your potential strata manager about what services they provide and ask them to explain each service in detail. Let the manager know what you expect from them during the course of their employment and what you would like to see improved within your strata scheme, enabling them to manage accordingly.
Whether you will need to meet regularly, communicate via email or phone call, have clear expectations of the role and services that your strata manager will provide and what is included and excluded in the contract. This way, there won't be any confusion about who is responsible for each task.
Once you know what sort of strata manager you are after, it is time to think about how much they will be charging. Strata fees can vary greatly between properties and even between different companies that provide the same services. If you can't find a strata manager with the exact services you require, then see if someone who offers a close match will work for your circumstances.
Also, consider comparing quotes online to know how much your strata management fees will be before making any contact with service providers.
If you are looking for a property manager who will be acting as a representative of your corporation, then this will require them to hold a current management certificate. If your strata scheme requires a management certificate, then only those with one should be looking at managing your property. It is up to individual proprietors and councils to determine whether or not they require a certificate, and so it's important that you check this before signing up.
To find the best strata manager for your property, it's a good idea to ask them for a list of current and recent clients who you can contact as references. This should provide some insight into the way they operate and how responsive their service is.
Before you contact them, it's also a good idea to check if they are members of Strata Community Australia to know they have the skills and knowledge required for their role as a strata manager. Even if they aren't members, don't be too put off as long as you know what your rights are as a proprietor.
Failing to hire a strata manager with the proper qualifications can be an expensive mistake, as they may not understand the intricacies of the Strata Schemes Management Act (and associated Regulations) or how to perform their role as a manager.
Experience, knowledge, and up-to-date information about changes in the strata sector are crucial for running a strata scheme smoothly at all times. If you are looking for property investment ideas or property management tips, hiring an experienced and qualified property manager can be your best choice.
Finding a strata manager is vital. You want to make sure you find one that meets your needs and wants, which may be difficult given how many options there are out there. Hopefully, you consider the tips above on how to find a strata manager when searching for someone who can handle all aspects of your real estate transaction—from managing meetings, organizing paperwork, and handing over keys to new owners!