Whether you're contemplating a move to multi-unit housing, or have freshly moved, the strata industry can seem complicated. However, by knowing how this impacts the maintenance of your residential space, you can enjoy peace of mind.
See how below:
In the Know: The Strata Management Meaning
The strata definition comes down to a property ownership system structure. This is when the property is divided to compromise individual units.
To define strata management, this refers to the administration and management of properties under a strata title. This includes shared spaces, such as lobbies, gardens, lifts, pools, and parking areas. All of which are collectively owned by the residents or property owners.
Upon property purchase in a strata scheme, you own your individual lot or unit. All while sharing ownership and responsibility for common areas with others in the scheme. By streamlining strata management, this ensures the smooth functioning of these shared properties. This is attended to and overseen by the delegated strata manager for the strata building.
*Looking to learn more? Read through our introduction into strata management for a more comprehensive overview of this topic.
What is a Strata Manager?
The strata manager coordinates the affairs of the owners corporation. Through direct access to their funds, they take sole responsibility in maintaining shared spaces. This then ensures complete correspondence with legal requirements and obligations, including building and safety requirements.
What is Strata Management in Australia?
The delegated strata manager is appointed by the owners corporation. All of whom are elected by the strata committee team to make specific smaller decisions on their behalf.
The strata manager has a wide range of responsibilities. However, these vary based on what's been requested by the owners corporation. This can cover everything from ensuring that financial management to repairs are executed smoothly. All in all, the umbrella term can be otherwise classified as managing the "day-to-day operations."
How Can I Know Who My Strata Manager Is?
If you're not sure who your strata are, you're not alone. It's important to first consider your relation as a tenant to the unit.
See how below:
Looking to rent/purchase a unit?
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Ask the real estate agent
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(If applicable) Ask the landlord
Currently renting a unit?
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Review any public notices
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Ask a neighbour
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Do the NSW government strata search
Strata Management Vs Lot Owner Responsibilities
When it comes to strata and lot owner responsibilities, many lot owners may find themselves confused on the responsibilities. However, to do so, it's important to establish the blurred line between the common property and individual lot.
See strata vs lot owner responsibilities:
What Are the Responsibilities of My Strata Management?
Strata managers must identify, arrange and look over work for "common" property, which is undergone by the building manager. In other words, common property can be understood as areas in which units are jointly owned. This ranges from ceilings, windows, to boundary walls. In truth, there are many ways on how a strata management company can assist your residence.
See a brief overview of strata responsibilities:
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Financial Management: Strata managers prepare budgets, manage levies, and maintain the strata fund by the administrative fund. This ensures all bills, maintenance, and repairs are paid for.
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Insurance for Strata Properties: The strata managers do administrative duties for commercial strata insurance. This ensures it covers those common areas and any shared assets. This includes policy management in finding the ideal insurance provider, managing insurance claims, to property risk assessment and management.
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Meeting Establishment: Strata managers must maintain their due diligence in coordinating correspondence with lot owners. This is respective to property maintenance issues. Alongside this, either themself or their secretary must issue written notices prior to meetings.
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Regular Record Upkeep: While the owners corporation prepares the strata roll, this must be maintained by the strata manager. The roll includes the full name, address, email, and phone number of the tenant and owner/property manager. Additionally, other crucial documents include but aren't limited to meeting minutes and notice copies
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Social Synonymity: To ensure all tenants have amicable relations, the strata manager maintains key responsibility. This is in commencing issue resolution between all parties involved. Alongside this, they maintain a responsibility in informing tenants of rules and regulations, as well as regularly requesting feedback.
What Are the Responsibilities of a Lot Owner?
As a lot owner, you do have some key responsibilities to look out for. Lot owners are responsible for repairs within the confines of their own unit, such as plumbing or electrical faults. However, for common areas, such as building walls, the strata manager takes responsibility.
Meeting the unique requirements by the respective strata scheme is also important. This can involve maintaining a respectful noise level for other tenants.
Also, remaining respectful and mindful of the shared structures are essential for the broader due diligence in unit care. This can include reporting noticeable structural issues to your strata manager or owners corporation. If access to your unit is required for repairs, you're legally obligated to provide the strata with this.
*Unsure as to who is responsible for repairs or maintenance? For more information, see this strata repairs and maintenance guide sourced by the NSW government.
Tips to Assess Your Current Strata Management
Suspect that your current strata management isn't effective? From general unresponsiveness, to a lack of responsibility over property maintenance. It's important to recognise the importance of a good strata management company. By assessing strata accurately, you can then determine the appropriate steps to take from here.
See some steps to assessing your strata management:
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Slow Responsiveness: When you report an issue to strata, do you find that the management is delaying in their response? This is particularly alarming in the event of major structural damage to jointly shared areas.
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Reactive not Proactive: The strata management should be frequently overseeing shared structures in case these require a repair. By failing to do so, they are neglecting their fundamental responsibility in ensuring structural safety for tenants.
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Financial Discrepancies: Do you find that there's a lack of transparency regarding finances? Whether this may be excessive maintenance expenses suggesting improper repairs, or inconclusive financial details in strata reports.
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Fundamental Disorganisation: Find that your or other tenants are frequenting strata issues? If your committee is in agreement that their needs haven't been adequately met, this signals a larger unrest.
*Looking to dive deeper into how poor strata can look? Read through when you know you need to change strata managers for more information.
How Do I Make the Switch From My Existing Strata Management?
a) Shortlist Strata Management
Do some research on a wide variety of strata management services. Once you've received quotes on all, shortlist and decide on the most ideal candidate for your building.
b) Check Your Contract
Reach out to your manager for the management agreement. This then allows you to assess the for the strata termination period, as well as the expiration date.
c) Extraordinary General Meeting
See the strata roll to ensure all property owners are invited to the EGM with at least 14 days notice. Ensure that this contains all details including the date, time, and the venue the EGM is held at. This should also include two motion types:
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Confirmation of minutes of previous meeting
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Approval of new strata manager, and termination of the previous one
d) Strata Manager Takeover
If the majority of owners are in favour of the new strata via a vote, you can then rely on your new strata management. To finalise the process, your new management can inform the previous management, and collect strata records.
Contact Strata United for All Your Management Needs
For a premium yet personalised approach to all your strata needs, we're here to help you. Providing end-to-end management services that meet the needs of all tenants.
Wondering why you should choose us? Our comprehensive building management is designed to provide unrivalled comfort and reliability to you. At Strata United, we're committed to values superseding industry standards. From complete cost transparency, a fast response time to repair requests, to low-predictable fees.
Looking for leaders in Sydney strata? Contact us today!
FAQS
Do you need home insurance if you have strata insurance?
To determine this, it's important to first assess the amount of coverage by the strata insurance. In many cases, this does not cover personal property within the confines of your home. Instead, this provides protection in the event of damage occurring to joint spaces, such as corridors. You may want to consider additional coverage for more thorough protection.
What can a strata committee not do?
The selected strata committee is primarily responsible for day-to-day decision making. However, when it comes to addressing financial or legal aspects, they can’t make a major decision without the owners corporation. This includes setting the levies, or putting common property up for sale.
Can strata stop you from having pets?
A common misconception is that strata can stop you from having pets. However, in the state of New South Wales, the owners corporation can't determine whether or not you have a pet. But they can provide some rules regarding this for the peace of mind of surrounding tenants. This can include ensuring that the pets don't exceed noise levels, and not cause a major disturbance.