Strata management is a vital part of the maintenance and upkeep of any strata property. It involves overseeing the day-to-day operations, as well as organizing necessary repairs and renovations. Strata managers are responsible for ensuring that all rules and regulations set out by the owners’ corporation are followed, while also handling communication between the lot owners and other bodies such as local government or utility companies. In short, strata management is essential in ensuring that everyone involved gets what they need from a strata property. Here are the top five responsibilities of Strata Management:
1. Maintenance and Repairs:
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This includes the responsibility to maintain common areas, keep up with necessary repairs and carry out leaking roof repairs if needed. Strata Managers must make sure the property is properly maintained to keep the occupants safe and comfortable.
2. Administration:
Strata Managers are also responsible for administrative tasks like developing a budget, preparing documents, and managing accounts. They must make sure all payments are made on time and that financial records are kept up to date.
3. Financial Management:
This includes managing the strata funds, creating and presenting financial statements to owners, keeping up-to-date records of income and expenditure and dealing with debtors.
4. Insurance:
Strata Managers are responsible for obtaining appropriate insurance policies and ensuring they remain up to date.
5. Dispute Resolution:
Strata Managers are responsible for addressing disputes between owners and tenants, as well as managing legal proceedings if necessary.
Strata Management is a complex job requiring strong organizational skills, knowledge of the law, financial management experience and excellent communication skills. It is essential to hire an experienced Strata Manager who can handle all aspects of the role. Adelaide strata management companies can provide experienced and reliable Strata Managers for properties of all sizes. By entrusting the care of your property to professional Strata Managers, you can ensure it is kept in excellent condition and its occupants are taken care of.