Homeowners living in close proximity often form stratas to enjoy all the benefits that come from creating a living community. Stratas exist in many residential areas and they make life easy for each member. However, a strata functions best with dedicated strata management services. Here is why
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Task management.
A myriad of tasks are involved in the management of a strata. The day to day activities are best carried out by a management body solely tasked to run the strata. Strata management services allows tasks to be followed up and completed efficiently. Moreover, knowledgeable parties are involved in the fulfillment of tasks arising in a particular strata.
Implementation of rules, regulations and directives.
Members of a particular strata often agree on rules and regulations that govern their community. However, implementation is left to the strata management team. Stata management services include implementation of rules and regulations that cover everything from security to garbage collection. Strata management bodies also provide amicable solutions for the implementation of rules within the community.
Centralization
Strata management services provide a central liason between home owners, residents and tenants. As a result, disagreements are resolved quickly and all clarifications can be sought from one central place.
Maintenance.
Property maintenance is one of the prime duties of strata managers. Strata management ensures all repair and maintenance work is done efficiently and on time. Moreover, residents have seamless channels for reporting faulty installations or damages within a building. Since maintenance is done regularly, the property value and rental value does not depreciate.
Legal guidance
There are numerous local, state and national laws that apply to properties and residences. Strata managers know all these laws so that property owners and tenants don’t have to. Good strata managers provide comprehensive legal guidance where appropriate. They also ensure owners comply with all legal obligations that’s arise from their property.
Financial management
Owners’ corporation’s finances are also managed by strata managers. The management collects dues and fines accrued from the strata. They also account for the use of all the money collected. Strata managers keep proper records on behalf of members of the owners’ corporation. They monitor invoices and set budgets for approval by the owners corporation. Strata managers also handle insurance. They follow up on claims and ensure everything is up to date.
There is no doubt strata management has it’s drawbacks. The strata fees can be high and decisions have to pass through channels which may be slow. Although there is no legal requirement for having professional strata management, it’s still important to get one. The benefits outweigh the draw backs when good strata management services are provided. To get the most from strata management, engage professional service providers with a proven track record. The strata business is flocked with poor strata managers, therefore, caution should be exercised. Do not be a victim of poor strata management.
Take your time and select strata management that seeks to provide the best services in the business.
