Strata Managers – how do you know if you’ve got a good one?

If you’ve owned/own a property with shared, common property (ie. driveway, gardens, stairs, foyers etc.), chances are you’ve come across a Strata Manager, sometimes also referred to as Body Corporate Management. In short, the Strata Manager is involved in the day to day operation and management of the property on behalf of the owners.

It can be a time-consuming and political job, which is why owners tend to engage the services of someone externally rather than managing themselves. So, how do you know if you’ve got a good one or if you’re in the market for one, how do you know what to look for? We’ve compiled a list of the top things to consider:

Accreditation

Not all Strata Managers are accredited but those that are will have an increased knowledge of strata title and its myriad of laws. The Strata Company are bound by laws and regulations and therefore your Strata Manager needs to be across these and be kept up to date, just like a Certified Practising Accountant (CPA). You might be surprised to know that only a small number in WA are certified by the Strata Community Association.

Training

The industry’s legislation and management practices are constantly changing so it’s important that your Strata Manager is up to date and undertakes regular training. Ask how often the strata team completes regular training to ensure they can represent your strata correctly and be up to date with changes in laws.

Experience

It’s important that you find the right Strata Manager to suit the size of your strata – whether it’s an apartment complex, a group of units or townhouses, ask if they have previous experience in managing your size of strata.

Insurance and sinking or reserve funds are also important and complex areas that require experience or accreditation to deal with properly. Under or over insured complexes will cost owners over the long run. Reserve funds can help spread out the cost of maintenance and repairs and not putting enough money away will require a larger input from all owners in the future.

Technology

Apps and websites are becoming more commonplace and make it easier for owners and Strata Managers to communicate. Levies, repairs, statements etc. can all be accessed instantly without waiting for an administrator to reply. Good Strata companies are investing in this, recognising that our online lives extend into all areas and people expect information instantly. Being frustrated whilst waiting for information on repairs or tax time can lead to unhappy relationships.

Lastly, while all of the above is important in choosing the right Strata Manager, the right personality also plays a big part. You’ll want a manager with excellent organisation and communication skills, one that is approachable and transparent with a neutral approach to difficult situations such as disputes. This can be hard to measure before appointing someone but you can ask for testimonials or referrals from other strata complexes and check for online reviews.

Next steps in getting your strata to consider changing companies can be complex, so getting the right advice early on can save time and money. Kim Dawes, Summit Realty’s Accredited Strata Manager can provide free, no obligation advice to help you review your current strata management.

Click here to find out more, call Kim on 9592 8188 or email strata@summitrealty.com.au