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Home 2 Home Realty offers a fixed-fee all-inclusive price to manage strata complexes that range in size from four to 20 or more. We pride ourselves on our transparent prices and letting owners know exactly what they’re paying for.
Why You Need a Strata Management Company?
Here are the reasons to hire a strata management company:
1. Maintain Compliance
A strata management company maintains compliance. It keeps required records, including by-laws, registered plans, strata roll, correspondence and reports.
2. Property Maintenance
It maintains commonly shared property and other amenities that the members use. It, therefore, arranges quotations and repairs for the maintenance of the building and facilities.
3. Financial Management
It takes care of financials, including the payment of invoices. And it compiles and distributes financial statements and budgets.
4. Mediate Conflict Between Members
It liaises with residents and mediates in any disputes or concerns that arise. It helps solve disputes among the members of the community.
5. Handle InsuranceClaims
It manages insurance claims as they arise and obtains insurance quotes for the property.
Our Strata Managers can help you with:
1. Residential Strata
A residential strata scheme is when the residents own their lot and a share of the common property, such as roofs, stairwells, paths and external walls.
2. Commercial Strata
A commercial strata scheme is mostly used for industrial, commercial and retail purposes, including shops, retail spaces, factories, storage units, office buildings, etc.
3. Community Title
Community title schemes are separate buildings or large estates with shared land and facilities, such as recreational areas. They have higher levies and stricter by-laws.
Why Choose Home 2 Home as Your Strata Managers?
Home 2 Home will make the process of renting out and selling your property simple. We provide excellence throughout the process. The main purpose of their team is to maximise the returns of your property.
It is, therefore, beneficial to hire a strata management company to manage and maintain your property. The company can reduce your stress and increase the returns of your property.
Therefore, if you are a property owner looking for a strata management company in Perth, Western Australia, then contact Home 2 Home to know more about Strata Management.
Frequently Asked Questions (FAQs)
The difference between strata management and property management is that strata management assists the Council of Owners to manage the common property on behalf of strata lot owners in a scheme, while property management manages a private property on behalf of an owner.
Manage Administrative Tasks – It manages tasks on behalf of the Council of Owners, such as the keeping of records, hosting of general meetings, making sure insurance is renewed and always in place.
Manage Finances – Assisting with the budget for Admin and Reserve Funds (if applicable) on behalf of the common property. The raising of the levy notices. Receipt of monies and ensures contractor compliance, and payment of invoices.
A willingness to build a relationship of trust and transparency is essential. Meeting the Strata Manager in person or online via zoom can be a great way to get a feel for the person.
- Experience – The best strata management companies have several years of experience, but also a full understanding of the Strata Titles Act and any amendments. This ensures compliance at all times.
- Dedication – The right strata management company manager will have sound communication with the Council of Owners and ensure transparency. If you need help, they are ready to help you and they will solve issues quickly.
- Professionalism – The right strata management company guarantees professionalism, so you can trust them to solve different issues.
A reserve fund is the funds you raise regularly with each levy and put away to cover capital expenditure to renew, rebuild or replace the common property.
The strata titles act does require a strata company of 10 or more lots to prepare a 10-year maintenance plan. This plan should be the basis for the raising of levies for the Reserve Fund. Then, the company uses these figures to determine the amount of money they will save into their reserve fund. The Act does not exclude the Strata Companies with less than 10 lots from also having a plan done. While it’s not a requirement of the Act, it’s good practice to have a reserve fund in all strata schemes.
In our experience, most self-managed strata schemes we take over have had little maintenance done and the record-keeping (compliance) is left to just one person who does all the work. While as a volunteer strata manager you can be paid, you do now also need to have an agreement in place. It can be more expensive to bring a property back up to scratch after little to more maintenance than maintaining it over a long period of time even with a paid strata manager.