In Australia, many people live in shared buildings or complexes, where multiple individual owners share common areas such as gardens, hallways, and parking spaces. Managing these shared properties requires coordination, organisation, and adherence to regulations, which is where a strata manager comes in. Strata & owners corporation management plays a crucial role in ensuring that these shared spaces are well-maintained, properly managed, and compliant with local regulations.
In this blog, we will explore the world of Strata & owners corporation management consultants, answering questions like what is Strata & owners corporation management and understanding the key responsibilities and duties of a strata manager.
What Is Strata & owners corporation management?
Strata & owners corporation management administers and coordinates common property within multi-unit buildings or developments. It involves managing everything related to the maintenance, financials, and legal obligations of shared property, ensuring that both property owners and residents experience a well-maintained and harmonious living environment. The term strata refers to properties that have been subdivided into individual ownership while sharing communal areas. These areas might include lobbies, gardens, rooftops, stairwells, pools, gyms, and other shared spaces.
The Strata & owners corporation management company is responsible for maintaining these areas and ensuring that the Owners Corporation (also known as the Body Corporate) adheres to all legal and financial obligations. The Owners Corporation is a collective of property owners within a strata complex who are responsible for making decisions about the management of shared property.
What Is a Strata Manager?
A strata manager is a professional employed by the Strata & owners corporation management company or Owners Corporation to handle the day-to-day tasks involved in managing strata properties. They act as the primary point of contact for the property owners, tenants, contractors, and local authorities. Essentially, the strata manager serves as the administrative backbone of the strata system, ensuring that the building operates smoothly and complies with regulations.
The Strata & owners corporation management meaning revolves around this position, as the strata manager’s responsibilities span various critical aspects of managing shared properties. These responsibilities include ensuring the property’s maintenance, managing financial obligations, and navigating complex legal requirements.
Why Do You Need a Strata Manager?
Having a dedicated strata manager is essential for several reasons, especially when dealing with large complexes that involve numerous owners and tenants. A strata manager ensures that all owners have peace of mind, knowing that their property is professionally managed and compliant with legal requirements.
Here’s a breakdown of why a strata manager is necessary:
Ensuring Compliance with Regulations
Strata & owners corporation management must adhere to strict legislative frameworks, particularly in states like Victoria, where strata laws are continually evolving. One of the strata manager’s key responsibilities is to ensure that the Owners Corporation complies with local laws. This involves staying up-to-date with any legislative changes and ensuring that all common property is managed in accordance with these regulations.
Compliance also includes ensuring that the Owners Corporation follows health and safety laws, manages fire safety systems, and maintains all necessary certifications. Failure to comply with such regulations can result in hefty fines or legal consequences for the property owners.
Managing Financial Responsibilities
Strata properties have various financial obligations, from maintenance costs to insurance premiums. A strata manager is responsible for overseeing the financial aspects of managing the property, which includes collecting strata fees, budgeting for future repairs, and paying bills on behalf of the Owners Corporation. They must ensure that the Owners Corporation has adequate funds for day-to-day expenses as well as future capital works.
Strata managers often provide financial reports to the Owners Corporation, ensuring transparency and allowing property owners to see exactly how their funds are being used. These reports are essential for making informed decisions about the property’s management.
Maintenance and Repairs
One of the most visible aspects of a strata manager’s role is managing the maintenance and repairs of the common areas. This includes scheduling routine maintenance tasks such as cleaning, gardening, and general repairs. The strata manager is also responsible for organising major repairs when necessary, such as fixing roofs, elevators, or structural issues.
They liaise with contractors, obtain quotes, and oversee any repair or maintenance projects to ensure the work is completed to a high standard. Additionally, they must ensure that repairs are conducted promptly to avoid any inconvenience to residents or potential damage to the property.
Organising Owners’ Corporation Meetings
The Owners Corporation is required to hold regular meetings to discuss issues related to the management of the property. A strata manager organises and facilitates these meetings, ensuring that all relevant topics are covered, such as budget approvals, repair decisions, and disputes between owners.
A well-managed Owners Corporation meeting is crucial for keeping the property running smoothly and ensuring all owners are informed and involved in decision-making processes.
Safety and Risk Management
Ensuring the safety of residents and visitors is a key priority for any strata manager. This includes conducting regular safety checks, ensuring fire exits and safety equipment are up to standard, and identifying potential risks such as uneven walkways or faulty lighting.
Risk management also involves maintaining proper insurance coverage for the common property and managing any claims that arise. A strata manager will often work closely with insurance providers to ensure that the property is adequately protected against risks like fire, flood, and vandalism.
Communication and Conflict Resolution
In multi-owner properties, conflicts can arise between owners, tenants, and the Owners Corporation. A strata manager acts as a mediator, helping to resolve disputes professionally and fairly. Whether it’s a disagreement about noise levels, pet policies, or the use of common areas, the strata manager plays a critical role in ensuring that conflicts are resolved quickly and with minimal disruption.
Effective communication is also a key part of a strata manager’s role. They keep owners and residents informed about important developments, repairs, and any changes to regulations or bylaws.
Record Keeping and Legal Custodianship
Proper record-keeping is essential in Strata & owners corporation management, as strata properties are subject to a range of legal obligations. A strata manager is responsible for maintaining accurate records, including meeting minutes, financial reports, insurance details, and maintenance logs.
These records serve as an important reference for any legal or compliance issues that may arise in the future. By ensuring that all records are properly maintained, the strata manager helps protect the Owners Corporation from potential legal disputes.
Strata & owners corporation management Consultants
Strata & owners corporation management can become complex, especially for large or unique properties. This is where Strata & owners corporation management consultants come into play. They offer specialised advice to help Owners Corporations improve their management processes. They can provide guidance on legal compliance, financial management, maintenance, and conflict resolution, ensuring that the property is managed as efficiently as possible.
Consultants can be especially useful when dealing with more complex strata schemes, such as mixed-use developments or properties with intricate legal obligations. Their expert advice can help ensure the Owners Corporation is well-prepared to manage its responsibilities.
Strata & owners corporation management in Victoria
In Victoria, Strata & owners corporation management is governed by the Owners Corporations Act 2006. The state has a robust framework for managing strata properties, ensuring that owners, residents, and managers are all protected under the law. The Strata & owners corporation management company is responsible for ensuring compliance with this act, which covers everything from the duties of the Owners Corporation to dispute resolution processes.
Strata & owners corporation management in Victoria also requires managers to be registered professionals with appropriate qualifications and experience. This ensures that they have the knowledge and expertise needed to manage properties effectively and in accordance with Victorian law.
Owners Corporations in Victoria often hire professional Strata & owners corporation management companies to handle the day-to-day operations of their properties. These companies manage finances, organise meetings, and ensure the property complies with all legal requirements.
Final Thoughts
Strata & owners corporation management is a vital aspect of maintaining and managing shared properties in Australia. From handling maintenance and repairs to managing financial responsibilities and ensuring compliance with complex legal frameworks, strata managers play an essential role in the smooth operation of strata schemes. Whether you’re an owner, tenant, or investor, understanding what does a strata manager do can help ensure that your property is well cared for and operates smoothly.
If you’re involved in managing or living in a strata property, hiring a professional strata manager can save time, reduce stress, and ensure that the property remains compliant with all regulations. When managed effectively, strata living can be a rewarding and harmonious experience for all parties involved.
If you’re looking for a Strata & owners corporation management company in Melbourne, call BFG Asset Management at (03) 9804 8770 today.
