Understanding Strata Management

What is strata management? Strata management is the process of managing a building, or complex of buildings, subdivided into units for sale. The strata manager’s role includes maintaining the common areas and facilities within the property and enforcing bylaws. For example, they might be responsible for dealing with complaints about noise levels from tenants or investigating occurrences of vandalism to see if they could be attributed to one particular unit.

The main objective of the Strata Management Perth policy is to create a long-term relationship between the owners and their property. Also, to provide an effective control system for overall financial matters related to the building and set guidelines for budgeting and investment decisions.

This article will help you understand how things work in your community association. It will also be helpful if any disputes over finances or maintenance issues need resolving because it explains what powers people have within a community association.

The Role of Strata Managers

The primary role of the strata manager is to ensure that all the tenants’ requirements are fulfilled by providing that scheduled general meetings are held at least once every three months. Public arrangements are designed to review issues affecting the building and make recommendations to the management concerning matters deemed necessary to the welfare of the tenants. The main objectives of the general meetings are to promote communication between the tenants and the owners, keep the general atmosphere of the building orderly, and encourage good behavior on the part of the tenants. At the end of the meeting, all decisions regarding the strata property management are made by the owners without further debate.

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Strata Managers Perth plays a vital role in the management of the project. As such, there are specific key performance indicators that the strata manager should meet regularly. Here are the top six key performance indicators for the strata manager:

  • Attendance at strata council meetings
  • Maintenance of the common property
  • Preparation and distribution of monthly financial statements to owners
  • Preparation and distribution of annual budget to owners 
  • Ensuring that bylaws are being followed as per the Strata Property Act (SBC 1998) 
  • Ensuring that all insurance policies are up-to-date, including liability, fire, theft, public liability, etc., with a reputable insurer by the owner’s policy requirements for their own home or business premises; this includes advising owners on any changes in coverage and premiums so they can make informed decisions about what contents they wish to maintain or increase for their investment properties.
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