Are you confused what strata management means and how it can benefit real estate owners? Well, simply put strata management companies can help take the stress and responsibility off of them when it comes to maintaining and running shared buildings and communities.
Table of Contents
What to Expect from Strata Management
1. Financial Management
Basically, they collect fees, manage budgets, pay bills, and prepare financial reports. They will also keep everything transparent and compliant.
2. Maintenance and Repairs
Strata management also helps organise repairs, trades, and long-term maintenance plans, from broken lights to lift servicing or garden upkeep. As a result, it will keep the property in good shape.
3. Legal and Regulatory Compliance
It is also important to note that the laws on strata can be tricky. But you can rest assured that companies can make sure the property will comply with state laws, insurance rules, and safety requirements.
4. Communication and Conflict Resolution
Strata managers can organise meetings in order to keep records and help managers to resolve any issues or disputes between residents, tenants, or owners.
5. Property Value Protection
Strata management also ensures the protection of your property’s value. That is because well-managed buildings can hold their value better. Thus, you can boost your property’s appeal to buyers or tenants if you have clean common areas, updated facilities, and conduct timely repairs.
Choosing the Right Strata Management Company
1. Check Experience and Licensing
It is important that you know how to choose a company with proven experience in managing similar properties. Ensure they are licensed or accredited, which is preferably through the Strata Community Association.
2. Ask About Communication
You also have to consider how often they update the owners and how quickly they respond to maintenance requests or emergencies. If possible, look for those that offer clear, regular updates and easy access via email, phone, or online portal.
3. Understand Their Fees
Make sure they can provide a clear breakdown of costs, such as admin fees, maintenance call-outs, or extra charges. You may also ask if there are hidden costs, and compare quotes from a number of providers if necessary.
4. Review their Services
It is understandable that some only cover the basics, but look for those that can handle everything. These include legal advice, maintenance, insurance, meetings, and dispute resolutions.
5. Check Reviews or References
There are different reviews, testimonials, or references that you can check for the type of services they provide. A reputable company should have a solid track record and satisfied clients.
Strata management can actually save you a lot of stress and money down the line. In fact, there are many professional companies and organisations specialising in strata management across Australia. A strata manager is hired by corporation owners to manage the day-to-day responsibilities of strata properties.
Are you still searching for a strata management company with a strong reputation as a professional group? Contact us today and discover how our team can enhance your efficiency and liveability. We are a reputable professional strata management group delivering trusted services across the country.
