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Basic Concept Of Strata Title Management Service
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The concept of strata title management was born in the state of NSW in Australia was later followed by the other states under different name. The basic concept remains the same which created to avoid the problems that might arise while staying in a multilevel apartment building. It quantified the ownership of the independent lots and the joint ownership of the common property by the lot owners. The innovative strata management of NSW gives a whole different meaning to the idea of peaceful co-existence.
But though it has its advantages there is a lot of work that goes into the smooth day to day running of the strata scheme. As there are a number of lot owners it is not possible always possible to reach at a unanimous decision about an issue and it is not possible to have the physical presence of all the lot owners.
To overcome the above problems, the owners’ corporation elects an executive committee and spokesperson to represent their strata scheme. But all said and done it requires years of experience, in-depth knowledge and awareness about the latest strata rules and regulations made by the Govt. and on top of it complete dedication to look after the strata scheme.
So though self management is always an option, most of the strata scheme members agree to hire the services of a strata management company. The strata management services can be elucidated in the following manner:
•A professional strata management company provides a licensed strata manager who closely works with the executive committee members after getting a fair idea about the particular scheme and their by- laws.
•Provide expert solutions to all property related issues.
•Takes care of all financial matters like quarterly levies, insurances, maintenance of the sinking fund and the financial report of the property which includes property taxes, mortgage taxes, mortgage payments annual budgets etc.
•Submission of monthly reports and informing the members about the monthly meetings, minutes keeping.
•Regular physical renovation, maintenance of the strata property.
•Providing customized help and advice regarding any legal problem and giving sound financial advice.
•Using the latest tools the strata managers constantly update themselves regarding the ever changing Govt. rules and other issues related to strata.
•Strata services are vitally important for any strata scheme because in this hectic life style you need prompt and expert help and when it is readily available, why not take help from the experts?
Strata services are available for all kinds of strata schemes like apartments, condos, retirement villages so on and so forth. Apart from the above mentioned services they provide for commercial and residential security, appointment of a care taker and any other requirement that might arise.
Strata management companies are capable of handling the running of different strata schemes- residential, commercial and neighborhood schemes. So with their diversified knowledge the strata managers are able to handle any kind of work related to strata schemes.
Christopher Whelan is a Licensed Strata manager at Whelan Property Group Pty. Ltd., a professional and proactive Strata title management Company Sydney.
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