Protect Your Property with Strata Management in Sydney

Posted by The Strata Collective on December 16th, 2019

Strata properties, such as apartments and condominiums, are becoming increasingly popular. It is an appealing lifestyle for many, and housing developers, seeing market demand, are expanding the amount of strata properties on offer.

However, it is significant that a resident becomes aware of and comprehend his rights and obligations as a strata property owner. This will empower them to participate in and take responsibility for the maintenance and management of the strata building and common property in the strata development, together with other like-minded owners. Common property includes such areas as the corridors, stairways, lifts, lobby, gardens, gymnasium, pool areas, and access roadways.

Residents of strata buildings need to comprehend the functions of strata management bodies, such as the Joint Management Body (JMB) and the Management Corporation (MC), in order to work with these bodies in ensuring a comfortable, amicable, properly managed and secure strata living community and environment.

These management bodies are established to ensure proper maintenance and Strata Management in Sydney. One of the most significant aspect of strata management is ensuring that the Capital Works Fund contains a suitable balance in order to complete strata maintenance to common property as needed.

Due to numerous property owners having their own financial and emotional concerns with respect to their property, it is in their interests to find professional strata managers to provide fair information, impartial information, facts and right direction.

Strata managers are professionals who are responsible for the administration of owners corporations.

Contingent upon the state and territory, they are also called owners corporation managers, body corporate managers, strata managing agents, managers, and agents. It is their job to ensure buildings and common areas within a strata titled or community titled scheme are properly maintained for the benefit of all lot owners. They follow particular instructions issued by the owners committee.

Strata managers are specialists in their field, possessing the knowledge and skill to administer the owners corporation in accordance with the complex needs of the particular state-based legislation. They also work to accomplish consensus in decision making by the lot owners, and to otherwise help the lot owners by accepting onerous responsibilities.

Strata managers are associated with coordinating the affairs of lot owners including conducting meetings, collecting and banking levies, arranging property maintenance, advising on asset management, placing insurance and keeping financial accounts.

Engaging a strata manager that is a member of Strata Community Association (SCA) is an essential step to ensure the professional and compliant administration of a strata scheme.

Strata legislation is complicated and designed to protect the interests of its lot owners. A strata manager who knows the legislation well can prevent inadvertent errors which can be made by self-managing owners.

Strata managers are required to stay informed of all changes in the relevant legislation through a program of continuing professional development and also maintain professional indemnity insurance. Not least, they are needed to adhere to an ethical Code Of Conduct.

So, add value to your property with proper Strata Management in Sydney.