When it comes to owning property within a strata complex, effective management isn’t just a convenience — it’s essential. While self-managing might seem like a cost-saving option at first glance, it often results in far more time, stress, and risk than owners expect. A recent article in News.com.au is a great example of what could go wrong.
A professional strata manager, especially a good one, provides expertise, protection, and long-term financial benefits that self-management simply can’t match. Here’s why:
Compliance Is Complex — And Constantly Changing
Strata legislation is detailed, frequently updated, and varies across states. From meeting requirements and financial reporting to safety regulations and by-law enforcement, staying compliant is a full-time job.
Self-managing means you must:
- Keep up with legislative changes
- Manage risks and liabilities
- Ensure all reporting and documentation is accurate
- Handle disputes within legal frameworks
A good strata manager understands the law, stays updated, and guides owners to avoid costly mistakes, fines, or legal issues.
Running a Strata Scheme Takes Time — A Lot of Time
Running a strata scheme involves far more than collecting levies and organising the odd repair. It requires ongoing administration, communication, coordination, and supervision of numerous tasks.
A professional strata manager handles:
- Financial management
- Maintenance and contractor scheduling
- Insurance renewals and claims
- Meeting preparation and minutes
- Compliance checks
- Owner and tenant communication
For busy owners, self-management quickly becomes overwhelming. A strata manager lightens the load, freeing owners to focus on their own lives.
Financial Management Needs Expertise
Budgeting, levies, long-term maintenance funds, and accurate record-keeping are crucial to preserving the value of a strata property.
A good strata manager will:
- Prepare realistic annual budgets
- Monitor cashflow
- Arrange audits
- Ensure levies are collected on time
- Plan for long-term capital works
- Provide transparent, accurate financial reporting
Self-management often leads to underfunded sinking funds, unexpected special levies, or inadequate planning — all of which impact property values.
Access to Quality Contractors and Better Pricing
Strata managers work with a trusted network of trades and service providers. They know who is reliable, appropriately insured, compliant, and cost-effective.
This means:
- Faster response times
- Better service quality
- Reduced risk of poor workmanship
- Competitive pricing through established relationships
Self-managed complexes often struggle with inconsistent contractor quality or inflated quotes.
Dispute Resolution Requires Skill — and Neutrality
Neighbour disputes, by-law breaches, noise complaints, parking issues — strata living inevitably comes with challenges.
An experienced strata manager provides:
- Impartial mediation
- Enforcement of by-laws
- Guidance based on legislation
- Support through formal dispute processes
Handling disputes yourself can strain neighbour relationships and escalate tensions.
Protecting Your Property Value
Well-managed strata complexes:
- Maintain assets properly
- Stay compliant with regulations
- Ensure healthy financial planning
- Present well to prospective buyers
Poorly managed (or self-managed) complexes often show signs of neglect, inconsistent maintenance, and financial instability — all of which drive down property values.
A good strata manager’s contribution is reflected directly in market appeal and resale outcomes.
Peace of Mind Above All
Self-management comes with stress, responsibility, and the risk of making expensive mistakes. A good strata manager offers peace of mind, knowing your investment is protected and your building is managed by experts.
The Right Strata Manager Makes All the Difference
Choosing not to self-manage is only half the decision. The more important step is selecting a good, reputable, proactive strata manager who prioritises transparency, communication, compliance, and the long-term value of your property.
A great strata manager isn’t a cost — they’re an investment in your property’s future.
If you’d like help connecting with a trusted strata manager or want advice tailored to your complex, our team is here to assist, email strata@summitrealty.com.au
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