Strata Title Management
Why strata management services are so essential to the owners' corporation?
Many people in Australia live in a property on a shared lot. They may live in an apartment or flat, or own a business in a shopping centre, or rent parking space in a set of garages. In situations like this, the lot will involve a shared space, or common area, which is used by all the owners of property on the lot. This might be hallways or stairwells, leisure facilities or gardens, or even a driveway. For people in this situation, the co-owners are considered to be a strata management, more often known these days as the owners' corporation. For anyone having to live under the rules thatgovern communal spaces, it can make sense to employ a company to manage the areas and resolve issues with the common property.
There are several issues when it comes to managing the owners' corporation. The first issue is that the owners are constrained by law and required to have insurance including public liability and a damage policy, which will cover any serious damage. The second issue is that the owners' corporation will be responsible for financing this and any maintenance issues, and in order to do this they have to arrange for contributions and fees. The third issue is handling the maintenance of the common areas, including dealing with maintenance staff and tradesmen. In order to manage all of this, it makes sense to employ a company to provide strata management services for the owners.
The main responsibility of any company offering such services to a group of owners will be administration. This can range from organising the invoicing and collection of fees to arranging meetings and taking minutes of any committees or meetings. There will also be legal matters, such as notices warning the owners' that they are breaking the law, or by issuing levy notices. All of these must be managed by the person running the strata management, and this can often be too much for an owner or property user. Therefore, it makes far more sense to employ someone to help with the handling of all of these elements.
As owners' corporations find that they are struggling to manage the demands of their common areas, employing a company offering strata management services can help to take the pressure off the owners, and ensure that all of the legal requirements are fulfilled. Handing this work over to a business with experience and the training needed to complete this task, can be extremely beneficial to the owners' corporation, and mean that all legal and financial requirements are fulfilled. When owners share a common area but live separately, using a go-between can be essential