The 15 benefits of hiring a strata manager

1. Expert guidance:

With years of experience and in-depth knowledge of strata living, strata managers can provide invaluable expert guidance. They can help navigate the intricate landscape of strata legislation and rules, assisting with how your strata scheme operates to help avoid costly legal missteps. Their expertise also aids in decision-making, bringing clarity and confidence to all stakeholders.

2. Effective dispute resolution:

Disputes can arise in even the most harmonious strata schemes. A strata manager is skilled in mediating disagreements between owners or tenants, leveraging their understanding of strata laws and conflict resolution tactics. This helps to foster a peaceful living environment and assists in maintaining positive relations within the community.

3. Budget management:

Overseeing a strata scheme’s finances requires a keen eye for detail and strong financial acumen. A strata manager can prepare and manage your owners corporation or body corporate’s budget, monitor expenditure, and oversee levy collection, aiding the scheme’s financial health. This proactive financial management is essential for long-term sustainability.

4. Maintenance coordination:

Buildings and shared spaces also known as commo property within strata or body corporate schemes, require regular upkeep. Strata managers help your property to remain in top condition by scheduling maintenance tasks, overseeing contractors, and assisting with the administration of repairs. This not only enhances the appeal of your property but may also prolong its lifespan.

5. Legal compliance:

Strata, body corporate and owners corporation laws can be complex and are subject to change. Strata managers stay up-to-date with these changes, ensuring your strata corporation complies with legal requirements. This relieves owners from the time-consuming task of tracking legislation changes and the risk of unknowingly breaching strata, owners corporation or body corporate law.

6. Insurance administration:

Insurance is a vital but often complex aspect of strata management. Strata managers assist with various insurance-related tasks, including supporting the property for adequate cover, facilitating policy renewals, and helping coordinate insurance claims. Their assistance aids owners corporations, and body corporates fulfil their insurance obligations.

7. Meeting facilitation:

Meetings are integral to the operation of a strata scheme. Strata managers are adept at organising and running these meetings, from agenda creation to minute recording. They can help deliver clear and effective communication between all parties so that meetings are carried out following strata law. Their presence and guidance can contribute to creating an environment where everyone’s views are considered.

8. Record keeping:

Accuracy and transparency are crucial in managing a strata scheme. Strata managers help maintain all records, from financial statements to meeting minutes and correspondences. This record-keeping aids in decision-making helps with accountability, and is essential for audits or if legal issues arise.

9. Contract management:

Managing a strata scheme involves juggling various contracts, from service providers to maintenance work. Strata managers can assist with handling various aspects of contract management, including negotiation, renewal, and termination.

10. 24/7 Support:

Emergencies can happen at any time. Many strata managers provide 24/7 support to handle unexpected incidents promptly, be it a burst pipe in the middle of the night or an urgent repair on the common property needed over the weekend. This support helps provide owners peace of mind and aids all residents’ safety and well-being.

11. Asset protection:

A strata scheme is a significant investment, and its value should be protected and enhanced. Strata managers act under the committee’s instruction and can take proactive steps to maintain and increase the property’s value through regular maintenance, budget management, and strategic planning for improvements. This commitment to asset protection can benefit all lot owners.

12. Communication bridge:

Effective communication is key in a strata scheme. Strata managers act as the central communication point between owners, residents, contractors, and the council. They handle correspondences, relay important information, and keep the committee in the loop, promoting a sense of community and understanding.

13. Regulation enforcement:

Living in a strata scheme comes with a set of by-laws or rules and regulations. Strata managers play a vital role in helping to enforce these rules, from reminding residents about the by-laws to taking necessary action for non-compliance. Their role in enforcement helps support a living environment where the rights and obligations of all residents are recognised and respected based on the committee’s directives.

14. Professional network:

Strata managers often have an extensive network of trusted professionals and contractors, from plumbers to electricians, cleaners and landscapers. This access means that any required work can be carried out swiftly and effectively.

15. Peace of mind:

Ultimately, the role of a strata manager is to make the lives of lot owners easier. Assisting with various aspects such as financial management, dispute resolution, maintenance coordination, and regulation enforcement, strata managers can contribute to owners’ peace of mind under the committee’s direction.