Choosing a strata manager is one of the most important decisions you will make for your property or strata scheme. Whether you’re part of a small building or a large complex, appointing the right strata manager can ensure the smooth operation of your building, minimise disputes, and maintain a safe and well-kept property. Beyond basic management, a competent strata manager provides invaluable expertise in navigating complex strata legislation and financial records.
This blog will explain the key factors to consider when choosing the best strata manager for your needs.
Key Qualities to Look for in a Strata Manager
When choosing the right strata manager, it’s essential to consider certain qualities that set the best strata managers apart from the rest. Below are some of the most important factors that can make a significant difference in the overall management of your strata scheme.
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Licensing and Qualifications
One of the first things to check when choosing a strata management company is whether it meets all the required legal and industry standards. Selecting a licensed strata manager is crucial to mitigate potential risks and ensure competent management. Their adherence to state-mandated regulations assures that they possess the specialised knowledge and skills required to handle the complexities of strata administration.
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Proven Experience
Another crucial factor when looking for the best strata manager is their experience. You want someone with proven experience in managing properties similar to yours, whether it’s a residential complex, mixed-use property, or commercial building. The more experience they have, the better equipped they will be to handle the unique challenges your strata scheme may present.
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Strong Communication Skills
A strata manager should be able to respond promptly to inquiries, keep you informed of important matters, and ensure clarity in their communication. Whether resolving disputes, addressing maintenance issues, or providing financial reports, you want a manager who is transparent and easy to talk to.
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Expert Knowledge of Strata Laws
Strata laws can be complex and vary from state to state. It’s crucial to choose a strata manager who understands the relevant legislation and by-laws that govern your property. This knowledge will help ensure that your strata scheme remains compliant with local laws and regulations, preventing potential legal issues in the future.
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Conflict Resolution Abilities
Disputes between owners or tenants are inevitable in any community living situation. That’s why it’s important to find a good strata manager who is skilled in conflict resolution. Whether it’s resolving disputes over common property, noise complaints, or by-law enforcement, a strata manager with strong conflict resolution skills can handle issues professionally and fairly, preventing them from escalating.
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Accountability and Transparency
A good strata manager should provide clear, accurate, and timely reporting on all matters related to the strata scheme, including financial statements, maintenance records, and meeting minutes. This transparency builds trust and helps prevent misunderstandings. They should also be accountable for their actions and decisions, ensuring that everything they do aligns with the best interests of the strata scheme.
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Technology and Innovation
Technology plays a significant role in the modern management of strata schemes. When choosing the best strata management companies, consider whether the company uses up-to-date technology to streamline operations. A strata manager who utilises technology can increase efficiency and enhance the overall experience for both owners and tenants.
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Financial Management Skills
Managing the finances of a strata scheme is one of the most important responsibilities of a strata manager. They should have strong financial management skills, including budgeting, collecting levies, maintaining reserve funds, and paying bills on time. It’s important to choose a strata management company that can efficiently manage the financial health of your property and ensure that there are sufficient funds for ongoing maintenance and repairs.
Evaluating a Strata Manager or Company
Now that you know the qualities to look for in a Strata manager, it’s time to evaluate potential candidates. Here are some key steps to find a good strata manager.
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Checking Reviews and Reputation
One of the best ways to evaluate a strata manager is by checking reviews and their reputation in the market. Look for online feedback, case studies, or referrals from current or past clients. If possible, reach out to other owners who have worked with the manager to get their opinions. A good strata manager will have a positive reputation, and you should be able to find evidence of their success in managing properties.
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Comparing Fees and Services
While price shouldn’t be your only consideration, it’s important to compare the fees charged by different strata managers and what services are included. Some managers offer a basic package, while others provide more comprehensive services. Understanding the full scope of services offered for the fee will help you determine whether it represents good value.
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Assessing Support and Availability
Another important aspect to consider is the level of support the strata manager provides and their availability. Some managers operate on a shared service model, which means they may handle multiple properties. Others may assign a dedicated manager to your property. While both approaches can be effective, ensure a clear understanding of both options before making a decision.
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Meeting the Manager in Person
Before signing any contract, it is essential to meet the strata manager in person. This allows you to ask key questions and gauge whether they’re a good fit for your property. Ask about their experience with similar properties, how they would handle common issues, and how they communicate with owners.
Common Mistakes to Avoid When Choosing a Strata Manager
Many people make several common mistakes when choosing a strata manager. Avoiding these pitfalls will help ensure that you make the right decision.
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Focusing Only on Price Rather Than Value
While choosing the cheapest option is tempting, focusing solely on price can lead to poor outcomes in the long run. A low-cost strata manager may not offer the level of service and expertise you need. Instead, focus on the value you’ll receive, including the quality of service, experience, and the range of services provided.
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Not Verifying Their Qualifications and Legal Standing
Failing to verify that a strata manager has the necessary qualifications and legal standing can lead to serious issues. Always check their credentials, licensing, and insurance before making a decision.
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Ignoring Their Dispute Resolution Process
Disputes are common in strata schemes, and it’s important to choose a manager who has a clear and effective dispute resolution process. When evaluating potential managers, especially if you’re seeking strata consultants in Melbourne, ensure they demonstrate a strong approach to mediation and conflict resolution.
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Final Steps and Decision-Making
After evaluating your options, it’s time to make a decision. Start by shortlisting your top candidates and comparing their services, fees, and reputations. Consult with other owners and members of the strata committee to gather feedback. Once you’ve made an informed choice, it’s time to finalise the contract and get started.
Conclusion:
Choosing the right strata manager is crucial to the smooth operation of your property and the satisfaction of all residents. By finding the best strata management company for your needs, you can ensure that your property is well-managed and compliant with all regulations. And when it comes to finding the best strata management company for your property, BFG Asset Management truly stands out.
Call (03) 9804 8770 today for reliable advice and service.
