(Newswire.net — September 28, 2021) — Strata are interesting entities. Modern strata are a mix of simple organizations with complex needs and structures. This observation is accurate for the majority of strata in Australia today. However, the ever-changing needs of the Body Corporates and living communities make running strata schemes today a demanding task that is best undertaken by a professional.
Since there is so much that you have to consider, selecting a strata manager is no easy task. To complicate matters further, the choice you make determines the success of your community. Therefore, at the very least, you must approach the process with all the gravity assigned to it and ensure that you have all your bases covered.
So, before you begin your search, you must have a good idea of how a strata scheme works:
The establishment of strata begins with the purchase of individual strata-titled units within a larger scheme. As soon as the lot owner takes possession of their property, they become part of the Owners’ Corporation. Thus, every owner automatically becomes a member.
As mentioned above, running a corporate body and, in turn, strata management can be very complex. As a result, the majority of body corporates then choose to engage the services of a strata manager. Once hired, the manager becomes responsible for the administration of the strata.
How do you find a strata manager?
As with any other professional position, finding a strata manager requires you to determine the best fit from a pool of applicants. To give yourself the best chance of success, begin by noting down the needs of your strata. That way, you can use them as a baseline to ascertain whether a candidate is suitable. Next, with your list in hand, assess your prospective managers by making certain they have such qualities as:
They are licensed and qualified
State regulations require that any potential strata managers attain the necessary qualifications before gaining allowance to practice. Therefore, you must check the candidate’s paperwork thoroughly. Moreover, a thorough check will help you determine whether they are qualified.
Beyond the licensing, it is also good to ensure that the candidate has an Annual Audited Trust Account. The reason for this is simple: there will be large sums of money collected by residents and body corporate members alike for use in the strata. Without a proper means of storage, you leave your strata open to falling victim to fraud and theft should the person you hire turn out to be a fraud.
Experience
A strata manager’s experience in the industry is valuable and desirable. Anyone who has worked with strata will have gained enough knowledge to keep your strata running smoothly. What they know can only benefit your strata scheme in the long run.
To ensure that the manager’s experience is compatible with your needs, you may ask to look at their portfolio. That will inform you of where they have served and whether their skills are adaptable to your requirements.
Good Reviews
Word travels fast, and word of mouth can be a fountain of information. Therefore, look up the reviews relating to your strata manager; find out how they stack up against other local strata professionals. You can seek that information from websites, comments placed by residents and other owners in different communities, or a friend or family member who has interacted with them.
Do not shy away from doing your due diligence to ensure that your strata manager is among the best in Brisbane. After all, it is the only way to assure the success of your strata community.