Strata management is one of the most difficult aspects of owning and operating a residential, or commercial property. If it is done correctly, both yourself and the properties tenants will be happy and be able to continue a productive, working relationship. However, if done poorly, conflicts are bound to arise – in extreme cases ending in court actions.
Below, you will find details of some of the most common problems encountered in strata management, as well as possible solutions. By understanding the most commonly identified issues, you can hopefully avoid them!
The Biggest Problem Could be You
If you are the owner of a property under strata management, studies have shown that a large percentage of tenants think you are the biggest problem! It may not be a nice thing to hear, but it is not surprising when looking at the divergent goals of owners and tenants. Owners necessarily want to spend as little as possible on building management and upkeep, whilst tenants want the best possible value for their money.
This situation is greatly exacerbated by owners who are self managing a property. Strata management is a big task and there are many laws that need to be adhered to. Whilst many owner-managers have good intentions, keeping up with the legal requirements can leave them completely overwhelmed. Often, this leaves owners stressed, tenants unhappy and legal requirements unmet.
The end result of poor quality strata management can be disastrous.
The obvious method of reducing stress and complying with legal requirements, is enlisting the help of a qualified strata manager.
Large facilities will almost certainly have a dedicated full time strata manager already. For owners of smaller facilities, this option is clearly not possible. A strata manager is a trained professional, who is experienced in maintaining a property, dealing with all the legalities of strata management and liaising with tenants and owners to rectify disputes.
As mentioned above, for a small property, employing someone full-time to fill this role is not financially viable – but there is an alternative. There are a number of companies who provide strata management services to property owners. In this case, you contract the company to manage your property instead of employing someone yourself. This means you only pay for the work that is done, as it is done.
Choosing a Management Company
Contracting a management company to meet your strata management obligations is a great idea, but there are some key things to consider when choosing a contractor. Below is a short list of common questions you should ask before outsourcing your strata management.
• Qualifications: You need to ensure that the company you are contracting is fully capable of completing the task at hand – the only thing worse than messing up yourself is paying someone to mess up on your behalf!
• Services: It is important to examine the services offered by the contractor, to ensure that all your needs will be met. Alternatively, make sure that you will not be paying for services you will never use.
• Price: Make sure you are fully aware of the cost before proceeding. This includes any extra charges that might be incurred for emergencies or other special circumstances.
Strata management need not be a burden! Free yourself from this often onerous task and consider the use of a strata management company.
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A simple online search can help you find a number of strata management companies near your area. Choose one after checking out all the companies in the list. Take a look at this website to know more.
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