Strata Managers are trained professionals with the thorough knowledge and expertise required to ensure proper and timely compliance with a litany of legal, notice, meeting, accounting, capital works fund and administration fund monetary requirements relevant to your strata development.
With licenced strata manager, all matters relating to the scheme can be directed to one person with intimate knowledge of your building and the know-how to resolve all matters. An Owners Corporation can delegate its functions to a licenced strata manager to assist in the running of the strata scheme.
Engaging a licensed strata manager is your assurance that your strata manager will act ethically, without fear or favour, be honest and be objective and fair.
A strata managing agent can assist you with legal compliance or guide you to appoint a strata legal expert to
- Assist you during the formation of the Owners Corporation, the creation of by-laws and the sale process of your development
- Keep you informed of the requirements/prohibitions during the initial period during the time before you have sold more than 1/3rd of the aggregate unit entitlements and attendant voting rights/dilutions
- When you must inform a prospective purchaser of their requirement to remit GST on the supply directly to the ATO (rather than to you as part of the purchase price)
- Expertly manage the day-to-day functioning of the strata scheme (often in conjunction with the strata committee)
- Advise you on the strict responsibilities to repair and maintain the common property
- Keep you up-to-date with new legislation, regulations, reporting requirements
- Disclose and resolve third party conflicts of interest
- Perform debt recovery services to ensure the building has the proper cashflow
- Manage and safekeep all documents pertaining to the building in a readily accessible and catalogued fashion
Enhance your investment, minimise disharmony
A duly appointed strata managing agent may increase the value of your property given that an impartial qualified third party effectively manages your building. A strata manager may also diffuse disputes before they escalate given that they are required to be impartial and act in the best interests of the Owners Corporation.
Do you have a question relating to your property or development? Contact us!
Please note that this article is provided for information purposes only and is not a substitute for professional legal advice.