Differences between strata management and property management
If you live in or own an apartment or complex, you’ve likely run into scenarios with leaking pipes or concerns with communal areas within the property.
Who deals with a broken step in a shared area, or who takes care of a broken door or lock or leaking pipe?
Depending on the location and nature of the maintenance query, different parties will need to take action respectively. Knowing the bounds of your proprietary authority is essential. This is for a less confusing exchange between you, your tenants and all other property groups involved.
The main parties normally concerned with general maintenance matters are the property and strata managers.
Keep reading below to learn more about the differences in these roles.
Strata management overview
A strata manager is a company that manages an apartment block or commercial building on behalf of all the individual owners in that block.
They work in the owners’ collective interest and manage everything from legal compliance to building maintenance and financial administration. Strata managers oversee the day-to-day management of the complex.
Strata managers are mainly responsible for administration, finance and community. Some specific duties of a strata manager include:
- Organise maintenance of common areas such as foyers, hallways and gardens
- Facilitate urgent repairs of the building’s common areas
- Send out levy notices and collect levies
- Ensure the building complies with Work Health & Safety regulations
- Set dates for strata meetings like the annual general meeting, executive committee meetings and emergency meetings
- Compile, write and distribute notices and meeting minutes
- Pay invoices and budget for costs relating to the building’s common areas
- Mediate disputes between residents or owners and the Executive Committee
Property management overview
A property manager is commonly thought of as the owner of the unit/building. In some cases, this is true. But property managers specifically are hired to help market the unit, residential or commercial space. They oversee the upkeep and maintenance of a single property lot.
They are the middleman between the landlord and the tenant. And they are responsible for finding a suitable tenant, collecting the rent and for arranging maintenance on the inside of the apartment. Some specific tasks of a property manager include:
- Ensure rent is paid on time and suggest when the rent should be reviewed
- Act as the main point of contact for the tenant and the in-between go-to for tenants and landlords
- Carry out open homes
- Vet potential tenants
- Facilitate routine inspections of the property
- Organise maintenance of the property
- Organise emergency repairs of the property
- Prepare tenancy contracts and related administration
- Advice on how to grow and manage the property portfolio
How to know who is responsible?
To put it simply, anything outside of the four walls of the individual property is normally in the hands of the strata. Often, in complex situations such as a compound leak that span over various properties, or flooding more than the individual lot, it’s ideal can call for the strata’s attention.
Most property management groups have a list of scenarios and cases which outline the specific roles and responsibilities of the various parties involved. This typically includes the maintenance, repair and management of properties in a strata scheme.
Proper strata management is essential for Sydney strata properties to thrive. Flawed management can result in painful fees, damages and loss of business.
Whether it’s a place of business or living, strata must be taken care of by responsive professionals.
At Strata & Co. we provide all forms of strata management services. In fact, we are the only company in Australia that offers the range of services we do! Our experts specialise in all levels giving us a unique approach to strata management.
To get premium strata services today, call us now on 1300 033 947.
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