You’ve heard of a strata manager, but what do they actually take responsibility for? And is their role the same as that of a property manager? While they might be similar, strata managers actually have a very complex role to play in managing a block of properties.
What is a strata manager?
A strata manager has a very different role to a property manager. While a property manager looks after individual properties on behalf of an owner, collecting rent and acting as a liaison between owner and tenant, a strata manager is responsible for a block of properties such as an apartment block. A strata manager’s role involves ensuring legal and insurance compliance, maintenance of the building and financial and social administration. Strata managers also assist residents within the building with any disputes or concerns they have.
Administration role of strata manager
The strata manager’s administration responsibilities include corresponding with tenants and owners, as well as prospective buyers. It is the strata manager who communicates with the owners and tenants, serving notices of meetings and levying maintenance contributions. They maintain the property which includes keeping the pools clean, and identifying any repairs the building needs arranging for these repairs to be completed. Strata managers also lodge any insurance claims and keep detailed records of owners details, logs on work done to the property and a history of key events.
Strata manager’s financial responsibilities
A strata manager also takes care of some financial responsibilities including monitoring invoices for payments and preparing budgets for the owner’s corporation or committee for approval. These budgets factor in repair works that need to be done to the building. They ensure amounts owed to the owners corporation are paid on time by each property owner and ensure adequate insurance, updating the policy and making sure the building is always covered.
The social role of strata managers
Strata managers are also often called to play a role in the lifestyle of residents which can include mediating the disputes between owners. The strata manager is responsible for enforcing rules around the common property such as the pool or playground, and communicating these rules clearly to all residents. There may also be certain laws that apply to owners within the building, such as the ownership of pets, which fall under the duty for the strata manager to manage. The strata manager is also responsible for organising information events, social occasions and listening to feedback from residents.
The role and responsibilities of a strata manager are becoming more complex with high-density residential buildings becoming more prominent in our cities. They now need to take charge of new features and account for more modern ways of living.