Considerations when self-managing a strata scheme in NSW

LookUpStrata has an interesting article regarding self-managing a strata scheme, which we wanted to share with you.

The author, who is not a strata manager, listed a number of key reasons against self-managing a scheme and in favour of using the services of a fully licensed and experienced strata manager. We have summarised these for you below:

1. Continuity: owners moving can be disruptive, and impact the stability of a scheme.
2. Cost of Lack of knowledge: the absence of thorough knowledge of the latest Strata legislation could cause issues and avoidable expenses.
3. Issue resolution: having an experienced licensed strata manager can resolve issues between owners early, or avoid them altogether.
4. False economies: Searching for cheaper fees can come at a cost that is not immediately evident.
5. Can you handle emergencies?: Would you know what to do in case of a serious emergency, such as a fire?

If you would like to read more about the benefits of engaging the services of a fully licensed strata manager, have a look at this article we wrote some time ago.

The original article which formed the basis of this article can be found here.