A strata management company works for the owners’ corporation and they will oversee the operations of your strata title development. The strata manager will be appointed by the owners’ corporation. There are many responsibilities that come under strata management and this lessens the workload on the owners and ensures efficient management of the property to create a comfortable living experience for strata residents.
You need to carry out a lot of research to select a company for strata management Sydney. This will have a big impact on the condition of your property and how it will be viewed by the strata residents. It can be an incredibly complex undertaking to manage a strata scheme and this requires professionals who have a lot of experience in the field. There are many roles that a strata manager should be able to fulfil such as being an accountant, tradesperson, mediator etc. So the person you choose to be a strata manager should be a multifaceted individual with good people skills. Some of the questions you should ask when selecting a company are whether they have worked with similar developments. Look for those with experience with similar sized developments or strata schemes that have similar facilities or functionality. If you have a mixed use development, they should have the relevant experience to manage it efficiently.
There are many issues that will come up when it comes to strata management operations. So there should be a network of experts and consultants that they can contact to get specific advice on certain things. You can ask the company about their support divisions and how this improves the operations of the strata managers. You also need to look for qualifications. They should carry a license that has been provided by an appropriate body. And there should be continuous improvement. Check if the managers in the company go through professional development courses continuously so they are up to date when it comes to industry practices and new legislation. They should also have a professional indemnity insurance coverage. You can ask them to provide proof of this document.
You also have to consider the charges of the strata management company. It is best if you check with several promising companies about their charges so you have an idea of who is quoting low or high. But the charges will also depend on the services they provide. Hiring a cheaper company will not be the best option as you may not be able to access certain services. Clarify with the company about the services they are charging for. Sometimes there can be services that you will not need. Some of the services provided are calculating budgets for the approval of owners’ corporation, record keeping, managing correspondence related to the strata scheme, maintaining common areas, obtaining quotes for repairs, maintaining insurance policies to date and handling claims. If there are any disputes, these will be mediated by the strata management. It is also best to select a company that has an office in the same area as the development so that the strata manager can respond quickly to anything that needs their input.
