STRATA MANAGER VERSUS PROPERTY MANAGER

I had a good response to the little bit I put in about Strata so here is some supplied by the West Australian 22nd November 2014 - Kristy Ward

Strata Manager versus Property Manager what is the difference?

The term strata manager is often confused with a property manager.  Although similar in respect to abiding by the relevant Acts and assisting clients in maximising their investment by upkeep and maintenance of the property; strata managers are different and play an integral rose in management of buildings which are covered under the Strata Titles Act 1985.  A strata manager is appointed by a group of owners, called a Council of Owners, to exercise and carry out all those duties and powers of the strata company which can be delegated in accordance with the Strata Titles Act.  A property manager is appointed by a lot owner to manage their affairs and obligations in relation to the letting of the premises under the Residential Tenancies Act.  As a general rule, strata managers manage the externals of the building, including administration, legal, financial and maintenance of the whole building and all of its owners, whereas a property manager will maintain only the single lot that the individual owner owns.

Why is a strata manager important?

Often the affairs of the strata company are complex and time-consuming for a small group of volunteers (being the nominated council of owners) and the appointment of a trained strata manager can provide professional administrative, secretarial, financial-management services and advice to the strata company on navigating the Strata Titles Act.

What does a strata manager do?

Depending on the agreement between the strata company and the strata management company, the delegated duties can include general accounting, budgeting, invoicing, arrears collection, financial reporting, meeting preparation and attendance, co-ordination of maintenance, enforcement of by-laws/rules, secretarial tasks, communication and dispute resolution.

Why cant my property manager also manage strata?

Strata managers are trained professionals who have knowledge of the Strata Titles At and property managers are trained professionals dealing with the complexities of the Residential Tenancies Act.  There could be the potential for a conflict of interest if the property manager and the strata manager were the same.

What's the key to good strata management?

The key to everything in strata is about keeping communication lines open, appointing a strata manager who is a member of Strata Community Australia WA, is active in the industry and one has a good knowledge of the At.  As both property managers and strata managers conduct duties as their names imply, it is important that the appointed managers and owners keep communication open when there is a problem directly relating to the owner or tenant.  Communication and mutual respect are needed to have any items resolved in a speedy and cost-effective way. 

Personal experience a really good question to ask the owner of the Strata business how many complexes does your strata manager run?  Because if it's over 80 without help your assistance is going to be very minimal.  Not always are the cheapest the best either, try and get a recommendation from someone currently using one they will be able to tell you.

MAKE YOUR OWN DECISION AND GIVE IT A REAL GO !!