We are living in the world of seemingly infinite urbanisation. However, the availability of land seems to fall short in front of the pace at which real estate construction is happening. The result of this is a vertical approach in the form of high-rise buildings. High investment contributes to high maintenance and this requires effective property management. In a situation like this, the right fit that provides value to your investment is the Strata management service.
What Are Strata Management Companies?
Strata management service is the one-stop solution to meet all the needs of residents and owners. One company usually manages between 50 and 150 buildings which can be residential, commercial or mixed-use facilities. They aim for preventive maintenance by taking care of gardening, cleaning, lawn mowing, bin management and other fundamental needs of the common areas of the complex.
Buildings with elaborate infrastructure and developed operating systems demand more attention than what was listed earlier. So, strata building maintenance coordinates with the key stakeholders to oversee the development and repair of the building while keeping in mind the legislative guidelines.
Advantages Of Employing Sydney strata specialists
- Professionalism – With the growing diversity in real estate, there is a growing gap between owners and their properties. This calls for a need of an expert who can manage your property without you having to bat an eyelid. The professionals of strata management companies are skilled and have the required qualification in property management.
- Resources – As opposed to a building manager, a management company would have more finances and manpower at their disposal to meet your needs during any unforeseen circumstances. This grants them the flexibility to deal with contingencies. Some companies also have a legal advisor who can help in resolving problems briskly.
- Adds Value To Your Property – In order to maintain a high standard of living after investing a big chunk of money in a complex, you need a strata manager. Sustaining your building well adds value to your complex and helps in creating an environment where residents feel safe.
How To Select Your Potential Strata Manager?
The ideal strata manager will be a guide and facilitator for your building who will shoulder this responsibility for years to come. They must be appointed by reaching a consensus in the general meeting.
Their term of appointment ends after a period of 12 months. It can be renewed and it can also be terminated in two days based on the general meeting of the owner corporation.
Strata manager needs to carry out managerial and administrative duties including –
- Liaising with occupants and owners to understand their expectations and meet them.
- Make sure that all the common facilities are working at their optimum level
- In case of performing a maintenance task, isolate the problem and investigate it to make sure the threat of repair is justified.
- Maintain a record and make sure that scheduled maintenance is initiated within a stipulated period.
- Maintain a log to record the progress of the maintenance and ongoing issues of the common property.
- Prioritise emergencies based on 24 hours or 7 days deadline.
- Make sure that all the administration-related records and databases are up-to-date.
- Keeping a track of people who have moved in and moved out as well as the occupancy of the meeting rooms and recreation areas.
- Schedule facility maintenance and monitor common areas including recreational facilities, elevator, pool, gardens, and lawns. Be attentive to services including hot water system, pest control, and cleaning by carrying out weekly or monthly inspections.
- Ensure all the service providers have the license.
- Keep a track of all the third-party contractors who are involved in strata building services.
- Oversee the performance of different service providers and carry out a performance review annually to evaluate their work.
- Attend all the committee meetings and stakeholders’ meetings.
- Make sure that the residents are following all the community guidelines and not imposing any unreasonable rules onto another resident.
Strata Management Act Of 2015
It is an act imposed by the government to serve the interest of owners, occupants, and the strata companies and help them work together in harmony.
According to the Strata Management Act of 2015, an owner corporation for a strata scheme is responsible for the proper maintenance and upkeep of the common property as well as personal property if its service is allocated under the owner’s corporation.
So strata companies are legally liable to take care of common properties and make sure they remain in workable condition. This could include your garden, elevator, swimming pool, hallways, and other shared areas. Every year, during the annual meeting, the expenses for common maintenance are fixed. Your strata manager needs to make sure that you, as a key stakeholder, are receiving all the services properly. The manager also needs to make sure that maintenance incurs minimum cost and be responsible for addressing important issues.
Technology To Streamline Management
Strata companies have a well-developed and licensed system to ease things for both managers and residents. They employ a system that shares information and updates in real-time with the building members to keep them in the loop with the new developments. Online surveys are conducted to record resident feedback and find the gap in the service and space for improvement. Strategically positioning digital notice boards in areas that see high traffic to inform residents about important updates and changes.
Conclusion
If on any occasion you feel that your common property is not being maintained well, it is time to move to another team that handles the responsibilities proactively. There are companies that offer free consultation and also a quote if required.
Many strata management companies also have a tailored approach to the care-taking of buildings. Their scope of work can be expanded or limited based on the demands of the strata. They prepare a set of recommendations that they deem fit for each building and extend a flexible approach to the strata owners and residents.