Strata managers and Property Managers are commonly confused, yet they have quite distinct responsibilities. A Property Manager is tasked with managing a specific property on behalf of its owners. Owner-tenant relations are handled by these professionals, who also do regular property inspections to ensure the property is maintained properly and is in excellent working order.
While this is happening, strata managers oversee an entire building complex (typically an apartment block). This job includes ensuring legal and insurance compliance, upkeep, and accuracy and timeliness of all administration. Responsibilities include aiding building residents with any conflicts or problems they might have.
The day-to-day responsibilities of a strata manager in body corporate Geelong may be broken down into main areas, as seen below.
Responsibilities of a strata manager include, but are not limited to:
- All correspondence relating to the building must be dealt with, including those from within (tenant/owner queries, etc.) and from outside the building (requests for information from prospective buyers).
- The upkeep of common property – A strata manager will, among other things, keep the swimming pools clean, identify building elevators in need of repair or replacement, and arrange for the building to be repainted.
- Communicate with property owners and renters
- Serving meeting notices, issuing circulars, and collecting maintenance fees.
- Insurance – Submitting all insurance claims and following up on their status.
In addition to keeping thorough records of owners’ names and contact data, logs on all property maintenance are kept as well as a history of significant events that have occurred.
Financial strata managers are in charge of overseeing the financial aspects of a building as well as preparing budgets that will be approved by the Owner’s Corporation or Committee, among other things. This would take into account the building’s significant repairs and maintenance requirements.
- Paying attention to bills.
- In addition, the Owner’s Corporation must be paid on time for all sums owed, including fees from each property’s owner.
- Securing and maintaining adequate, competitive, and appropriate insurance coverage.
Strata managers are regularly asked to help tenants with their lifestyle problems. A few examples include:
- Enforcing regulations surrounding the common property and properly explaining those laws to all inhabitants.
- Mediation in cases of disagreement between owners.
- Administering and enforcing rules that affect property owners. Strata managers, for example, must deal with the problem of pet ownership. Pet ownership without authorization or pets that interfere with a neighbour’s right to peace and quiet are two possibilities.
- Where required, amend the bylaws for the benefit of the Owner’s Corporation.
- Hold informational and social gatherings to learn more about the neighbourhood and to solicit suggestions on how the property may be improved.
Strata managers’ responsibilities are also getting increasingly sophisticated over the years. Strata managers are now required to take charge of new features, which are making their way into formerly uncommon building projects.
Even in basic situations, such as new apartment complexes with gyms that pose a risk, the strata manager’s job is growing to accommodate more modern ways of living, such as flats with commercial zones on the lowest few levels.