Wagga Wagga Blog

• What is Strata Management

According to the Strata Management ACT 2015 in NSW , A strata Manager is an individual entrusted with performing various tasks on behalf of an owners corporation. What is an Owners corporation? An owner’s corporation is a company that owns the building, land and common areas of a property.

 

• What is a strata manager, and what do they do?

A Strata Manager ideally keeps everything running smoothly, the primary duty of a Strata Manager involves overseeing a cluster of residential units or blocks of collectively owned real estate properties. Acting under the guidance of the owner’s corporation. 

 

• What are specific duties and responsibilities of a strata manager?

Some of the responsibilities of a Strata Manager vary from day to day and you can see below.

 

1. Property Maintenance

The role of a strata manager continues to expand, with a key focus on enhancing the quality of life for residents within strata properties. Nevertheless, distinguishing between common property and what falls under the ownership of individual lot owners can sometimes be a challenge for the latter.

 

2. Keeping custody of and updating records

While it is the responsibility of the owners' corporation to keep their strata records current, this duty is often delegated to a strata manager. Section 180 of the Strata Schemes Management Act 2015 (NSW) and the Strata Schemes Management Regulations 2016 (NSW) mandate that strata owners must retain the following documents for a minimum of seven years:

 

3. Financial management and taxation

Similar to individual property owners, a strata scheme bears the responsibility for various aspects, including securing building insurance (excluding contents), settling utility bills related to common property, and conducting routine repair and maintenance work. To finance these outlays, the owners' corporation must establish both an administrative fund and a sinking fund, from which they collect levies from the property owners. The administrative fund caters to everyday operational expenses, while the sinking fund is designated for forthcoming capital-related expenditures.

 

4. Administration and setting up of meetings

The strata manager assumes responsibility for various forms of correspondence involving property maintenance matters, regular levies, meeting notifications, and other general information pertaining to the strata property. They manage all communication concerning the property itself, including inquiries from tenants directed to the property owner, as well as queries from potential property buyers.

 

5. Interpersonal relations and sharing information

In many instances, strata managers play a crucial role in promoting harmony among all property owners. This entails undertaking various tasks such as:

 

6. Ensuring compliance with building and safety requirements

Regardless of the size of the strata property, Australia enforces numerous laws and regulations that strata owners must adhere to. These encompass certifications for lift and fire safety, among others. It falls upon the strata manager to take a proactive approach by researching and staying informed about the relevant laws and regulations within the jurisdiction. This is vital to ensure that the strata property complies with these rules both initially and on an ongoing basis. Working in conjunction with the strata committee, a strata manager should facilitate the required assessments and guarantee that essential services are accessible to residents.

 

7. Keeping the Strata Roll

The owner's corporation is legally required to create and maintain strata roll, typically held in the custody of the strata manager.

 

In conclusion, the role of a strata manager is multifaceted and vital in ensuring the smooth operation of strata properties. From property maintenance to financial management, administration of meetings, and fostering positive interpersonal relations among property owners, their responsibilities are wide-ranging. A dedicated strata manager also plays a pivotal role in ensuring compliance with building and safety regulations, guaranteeing that residents can enjoy a safe and harmonious living environment. Moreover, their meticulous record-keeping, including the essential strata roll, helps maintain transparency and accountability within the strata community. In essence, a competent strata manager is an indispensable partner in the efficient management and upkeep of strata properties, ensuring the well-being and satisfaction of all residents.