Engaging the services of a strata management company is entirely optional and is a decision made by the council of the strata company. However, it’s a choice that can significantly simplify property management. Whether you’re overseeing an apartment complex or office building in Western Australia, strata management services, while not mandatory, offer valuable assistance to property owners and businesses alike.
Here’s 5 ways Strata Management Companies like ESM Strata provide support to Strata Companies across Western Australia:
Effective Financial Management
The cornerstone of smooth property operation is efficient financial management. Strata management services take charge of collecting levies, meticulous budget management, and ensuring timely payment of invoices. This financial diligence empowers property owners with a clear understanding of their investment’s financial health, enabling well-informed decisions and adequate reserves for necessary maintenance and repairs.
Strata Management Companies can also keep an eye on upcoming scheduled maintenance in your 10-year maintenance plan and ensure there is enough funds in the reserve fund to account for this in the future. The result is a property that is financially sound for current and future owners.
Navigating Complex Regulations
Strata laws and regulations are intricate and specific to Western Australia. Managing these legal complexities can be daunting for property owners. Strata management services bring an in-depth understanding of these laws and keep abreast of any amendments and the changes they bring to living in Strata day-to-day. Strata Management Companies offer invaluable guidance, ensuring adherence to all relevant regulations, encompassing health and safety standards, insurance prerequisites, and bylaws. This expertise mitigates legal risks and fosters a harmonious and compliant living or working environment. Many of our Strata Managers have been supporting buildings in Western Australia for a number of decades and it is in their experience that you get the best support.
Efficient Property Maintenance
Property maintenance is an important part of the preservation of a property’s value and appeal. Strata Management Services consider the cost of upcoming and ongoing maintenance and repairs to common areas such as lobbies, elevators, parking, gardens, walls, roofs, facilities etc, and create budgets and timelines for their activities. Strata Management Companies like ESM Strata have a strict supplier application process so the companies arranged to provide maintenance works will always be of high quality and perform the work as expected. This is important, as many contractors will not know the intricacies of strata law and works required.
Expert Conflict Resolution
In communal living or working environments, conflicts can emerge among residents or between owners and management. Strata managers assume a pivotal role in conflict resolution, acting as neutral mediators to seek equitable and practical solutions. Drawing upon their experience and expertise, they adeptly address various disputes, including those involving maintenance, noise complaints, or bylaw enforcement.
Streamlined Administrative Support and Communication
Strata management services serve as a central point of contact for property owners, residents, and external service providers. They manage administrative tasks, such as distributing levy notices, preparing meeting agendas and minutes, and handling correspondence. Clear and timely communication is essential for conveying important information to all stakeholders. Strata managers establish and maintain effective communication channels, promoting transparency and cooperation within the community.
If you’re looking to make the jump from self-managed Strata to Strata Management Services do not hesitate to reach out to us today. We can guide you through the process of making the switch.
