Strata Management Apartments—What Will Your Strata Manager Do?
If you're about to buy a strata property management apartment, you may be wondering just what strata management is and what your strata manager will do. Read on for information about the service you'll be paying for.
Provide Protection for Your Investment
Your property may be the biggest investment you'll ever make. It will not just be a financial investment; it will also be your home. You want your investment protected—that's part of what a strata management company will do. Your strata manager will ensure that your apartment block is never underinsured or poorly maintained—the manager, appointed by the owners, will look after all the legal requirements, ensuring common areas are kept clean and properly maintained. So, if your apartment comes with communal facilities such as a pool or gym, then this area will be kept clean and properly maintained.
Strata Managers Help Keep the Peace
A strata manager's role will include social and lifestyle management. They will be available to mediate when residents have disagreements, ensuring that your home remains a haven of peace. They are there to make sure that everyone knows what the rules are and to enforce those rules to maintain a harmonious, pleasant living environment for all owners/occupiers. Strata managers will also take responsibility for arranging committee meetings, information events and social gatherings. They will listen to feedback and where possible action ideas for improvements.
Strata Managers Take Care of the Admin
After a long day of work, the last thing you want to do is come home and deal with administration issues. A strata manager will deal with all the internal and external correspondence regarding your apartment building. This will also include any enquiries from prospective buyers related to the sale of an apartment within the building. The strata manager will arrange for all repairs, upkeep and renovation work and manage them while they are ongoing. The management will also keep detailed records of work and key events so that residents have access to all important information pertaining to their building.
Strata Managers Take Care of the Finances
Your strata manager will be responsible for all financial considerations for your building. This will include the preparation of budgets for the consideration of the owner's committee. The manager will take care of invoice payments for building maintenance and cleaning as well as purchasing insurance. They will choose service and insurance providers with a view to getting the most competitive prices, making sure owners get the best value for money. The strata manager will also collect property owner's fees and ensure they are paid to the owner's committee on time.