What is the Role of a Strata Manager Gold Coast?
A strata manager Gold Coast is an individual who takes responsibility for carrying out the various functions of different owners’ corporations. He/she is compensated for the services rendered but is not allowed to sell or rent out properties.
Often lumped together with property managers, a strata manager Gold Coast differs as he/she is often referred to as a body corporate manager, as well. Being put in charge of a block or group of properties jointly owned by several people is, perhaps, the top difference between a strata manager Gold Coast and a property manager.
The responsibility of maintaining an accurate and updated administration of a block of properties while staying compliant with local regulations and laws is ensured by a strata manager Gold Coast.
What does Strata mean?
The popular term for strata is either a strata title or strata scheme. A “lot” or property that is partly owned by a group of investors is the thing that forms a strata scheme. The partial ownership of a property could be a townhouse, one big apartment, or a unit.
Common property other than owning the lot is shared by the various lot owners. This includes gardens, driveways, parks, pools, parking lots, gyms, pathways, lifts, and many other amenities. People opting to invest in a strata scheme provide access to community living.
The rules and responsibilities imposed by a strata scheme to various owners include:
- The parking area is only used for parking
- Appropriate management of pets
- Guests are expected to follow the body corporate rules
- Noise should always be properly regulated
- Littering or damaging common property is strictly prohibited
- Get approval before making any changes to the occupied unit
The financial integrity and property maintenance of the shared property are always assigned by the owners to their chosen strata manager.
What are the Expected Responsibilities of a Strata Manager?
Being appointed by the property owners as a collective means that a strata manager is responsible for running the daily management of the strata scheme. Hiring two or more strata managers depends on the size and complexity of a shared property.
Whether one or two strata managers are needed, it is a given that the well-designed systems and processes make them the most suited for the position than the owners.
A contract between the manager and the strata corporation is the thing that binds the manager in carrying out his/her responsibilities. However, services performed by the strata manager are not for individual owners but for the whole corporation.
With this, the various responsibilities expected from a strata manager include:
Comply with safety and building requirements
Strata scheme is chockful of regulations and laws that need compliance, regardless of property size. Fire and lift safety certifications are included with the requirements. Being proactively updated on applicable regulations and laws is the important role of the strata manager.
Manage taxation and finances
A property building has its share of financial things to comply with including insurance, regular maintenance and repairs, and utility bill payments for common areas.
A sinking fund and an administrative fund have to be raised by the joint owners as a way to cover the maintenance costs of the property. The day-to-day operational costs are usually charged to the administrative fund while future expenses related to capital are relegated to the sinking fund.
All of these financial responsibilities are monitored and accurately recorded by the strata manager.
Contact us if you want hire Gold Coast’s certified strata manager.
