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Strata management sometimes referred to as “land management” or “strata corporation management,” is an expert area of real estate management involving all day-to-day operations and administration of shared property. The Strata scheme also includes common areas within complexes. The management of strata properties consists of implementing and maintaining a sustainable development strategy, providing efficient and environmentally sound utilization of the land, and preventing adverse environmental impacts.
Maintenance, inspection, and repair are the property management company’s responsibility which, in turn, reports to the local authorities. All maintenance work performed by Strata Management must comply with local legislation, and the strata management company enforces all scheduled maintenance work within the property regularly. Any unsupervised or unplanned work must be immediately reported to the management company for action to be taken. This is the primary responsibility of the management company. In addition, they will perform their periodic inspections and maintenance appointments.
The strata management process consists of four main decisions: establishing the strategic objectives, planning the working of the strata management process, implementing the strategies, and carrying out the monitoring and control functions. The strategic objectives refer to the long term strategy that the owners have agreed to put into place once they own the property. These objectives may include maintenance, safety, use of the common property, or any other matter that has been decided upon.
The planning phase refers to the stage in which strategies have been developed and implemented, and all necessary arrangements for the management of the common property have been made. The strategic plans should include objectives and strategies that are relevant to the structure of the property and its location. It is not enough to just get a good strata management company; the strata manager must also have a good understanding of the property and be able to communicate this to the rest of the staff.
The implementation stage is very important because it is during this time that the strata management plan is implemented into real life. Maintenance records need to be kept, and the budgets must be monitored closely. The next stage is also important and is referred to as the monitoring phase. During this time the owners can be held responsible for any problems with the systems or services, if they are not up to the standards. If problems occur, the owners need to call the strata management company right away, to ensure that the problem is fixed in time to avoid any negative impact on the property.
In addition to these activities, there will also be periodic re-positions of the managers, as part of the regular inspections. The purpose of these inspections is to ensure that the staff are doing their job correctly by meeting the maintenance schedules. The main duty of the managers during this point of time is to maintain communication with the other staff, to ensure that all responsibilities are being fulfilled. Any changes to the procedures or duties of staff need to be communicated to all managers at this stage of the process. These responsibilities are also listed in the property maintenance plan.
The last stage is the actual management and administration of the scheme. It is at this point that the scheme needs to be reviewed by the board of directors, and the various plans need to be updated to the current situation. The strata plan must also be reviewed periodically, to check that the objectives still remain true to the original strata plan, and that there has been no changes made to the property that would mean a change to the rules of the plan. The management and administration of the strata plan are usually done by the property owners’ corporation, and the involvement of the homeowners is minimal. The corporation is run separately from the homeowners, and they make all decisions themselves.
One of the important roles that the strata committee plays is that of a mediator between the owners and the management. The members of the strata corporation can play a role in trying to find a solution to any problems that they have, by making regular monthly meetings with the strata manager. Many of these meetings may end up being very tense, as homeowners often feel that the problems are not being properly addressed. These meetings are also used to review the budget that has been set, and to make any necessary changes that have been identified. All issues are brought to the attention of the whole strata corporation, through the meetings of the strata committee.