When it comes to the management of a property, a mistake people make is using the terms property manager and strata manager interchangeably. While their roles may appear similar on the surface, when you delve into the actual job description their roles are vastly different. Property managers have the main purpose of ensuring that an individual property, be it commercial or residential, is their responsibility.
This role includes rent collection, as a tenant and owner liaison and so on. A strata manager, alternatively, is in charge of a jointly owned property. Thus, multiple individuals that own units in a single property will have a strata manager run their property-related affairs. This piece illustrates the various things that a strata manager can do for you.
A strata manager can act as an advisor
When it comes to real estate, there are numerous safety considerations to be kept in mind. And if you are part of a jointly owned property, chances are you and your co-owners will not have the time to ensure that your building is safe. Not to mention that is it unsurprising that some individuals may not even be aware of what they need to know! A strata manager knows to advise the property owners on fire safety, legislation and all else regarding the property. By identifying the legal obligations you are tasked with, the better protected you are from unforeseen risks.
A strata manager can act as an arbiter
As long as you are in an owner's corporation, you have to deal with different people and their personal opinions. Thus, it is likely that you and your co-owners will end up disagreeing on some key issues, which can reflect on the management of the property. When you hire a strata manager, you get a third party that will be capable of functioning as an objective mediator. The neutrality that a strata manager offers will not only help in finding a mutually beneficial resolution, but they will also try to facilitate effective communication among the property owners.
A strata manager can act as a clerk
Regardless of what type of property that you co-own, whether it is part of an apartment block or a commercial property, records are necessary. Furthermore, if you and your co-owner typically hold meetings, you need to ensure that minutes and agendas are correctly recorded too. Record keeping can be incredibly tedious, which means not many people will volunteer to do this on a regular basis. To take the hassle out of having proper documentation about the property, you can have your strata manager be in charge of this task.
For more information, contact your local strata property management group.