Attention Developers: Why you need a strata managing agent!

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 development.

What a licenced strata managing agent can do for you:

  • assist you during the formation of the Owners Corporation and recommend by-laws which should be registered with the strata plan to better manage the scheme
  • assist in the sale of new residential/commercial/retail apartments and provide strata information certificates and enable prospective owners to search the books and records of the Owners Corporation
  • 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)
  • act as the nominated manager to manage the affairs of the Owners Corporation and be the central point-of-contact for any complaints, queries and quarrels
  • advise you on the strict responsibilities to repair and maintain the common property
  • act as the neutral mediator balancing the sometimes competing interests of the developer –v- the individual owners –v- the Owners Corporation
  • determine which issues reported warrant the attention of the Owners Corporation
  • determine whose responsibility any damage or defects in the building are
  • prepare detailed budgets to enable the Owners Corporation to function properly and meet its expenses as and when they fall do
  • prepare (with experts) projected expenses for 10 year capital works fund works
  • prepare and lodge annual returns, GST BAS returns etc
  • regulate breaches of by-laws reported
  • prepare agendas, convene meetings
  • arrange annual certifications as may be required by law
  • arrange asbestos, WHS and other reports
  • determine which works affect the common property and classify them as cosmetic works, minor renovations or major renovations requiring the preparation of a by-law
  • ensure insurances for the building are adequate in case of damage or destruction
  • ensure insurances for the building cover public risk, workers compensation any fidelity insurance
  • keep you abreast of the ever changing legal climate in which developers and indeed, Owners Corporation’s operate
  • keep you up-to-date with new legislation, regulations, reporting requirements
  • be competent, timely and proactive in managing the building in the best interests of the Owners Corporation as a whole, and, act ethically, honestly, transparently without fear or favour as required by Strata Community Australia
  • identify potential issues before they escalate
  • 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
  • identify expert strata lawyers to assist with the developers and Owners Corporation’s needs
  • assist in the sale of new residential/commercial/retail apartments and provide strata information certificates and enable prospective owners to search the books and records of the Owners Corporation
  • 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
  • promote a professional, competent, fair and impartial, efficient image for your developments giving potential residents comfort that the building will be properly managed thereby minimising disputes and disharmony within the scheme

Want to know how we can help with your development? Contact us!