What Are the Services A Strata Manager Can Provide?

What Are the Services A Strata Manager Can Provide?

Strata management in its simplest definition is the management of state estates. Property owners are looking for strata management team to take over in carry out the duties and responsibilities of running the estate. In essence, a strata manager ensures that the residents or tenants’ requirements are attended to. The services a strata manager can provide depend on the contract that they have signed since all properties have various demands. But generally, a strata manager provides the following services:

Property management

Strata houses tenants live in a well-maintained environment because of strata management. Strata management or body corporate management in Melbourne is typically expected to maintain common areas in a property like swimming pools, gardens, and parking lots.

A strata manager must hire workers such as gardeners, cleaners, technicians and other staff members. A strata manager is allowed to make maintenance choices when it comes to the repair of damages to the property. They are also the first point of contact if urgent repairs are required.

Financial management

Managing and handling the finances is also a service that is strata manager provides. The manager must have a petty cash in on hand in accordance with the annual financial budget created by the strata manager to make sure that bills and invoices for taxes electricity bills insurance and other regular costs that are required to keep the property running smoothly are paid for. It also falls under the strata managers duty to create financial accounts as well as levying fines and GSTs and other additional associated taxes.

Compliance with safety regulations

There are a number of laws and regulations that are enforced for strata owners regardless of the size of the property. It is the strata manager’s duty to follow these regulations such as lift and fire safety inspection.

The strata manager must also proactively investigate which rules and regulations are relevant to ensure that the property they are managing remains compliant. Coordinating with the appropriate authority when it comes to assessments and inspections of property facilities is also the manager’s duty to ensure that the residents have access to facilities that are safe for use.

Administrative

The strata manager must also provide administrative services such as handling all the internal and external correspondence. Liaising with landlords and tenants such as distributing circulars collecting maintenance fees and serving meeting notices also falls under the managers administrative duties.

Filing insurance claims and making sure that the coverage is still up to date is also one of the responsibilities of the manager. Archiving related documents such as an extensive database of the owners’ names and contact information, all of the work performed on the property and a history of all significant events must be kept and updated by the strata manager.

The services that the strata managers provide are constantly growing and becoming more expansive since more and more responsibilities to handling and managing a property are being determined. So, it is recommended to hire a strata manager that is adept in juggling numerous roles and is able to handle various responsibilities.