There is growing demand for strata properties in Western Australia, as they offer great benefits to owners and residents. Property developers involved in a new strata development would benefit from working with a Strata Management Company from the beginning of the project.
Rather than engaging a Strata Management Company at the end of a strata development project, a Strata Management Company who is involved from day one can offer their expertise and support you with a number of matters, including insurance, advice and certification. They will also ensure the entire project runs smoothly and adheres to strata guidelines, building codes and standards before going to market. Overall, you can expect to save time and money by having a Strata Management Company as part of your team in the early stages.
Strata Managers work with strata owners on a regular basis and know what is needed in a successful strata development. They ensure effective communication between all parties, support the transition period for new owners and provide high-quality ongoing management of the strata company. They can also assist with the sales pitch your sales team will be using. With them on your team, you can maximize sales of the new strata development and ensure a positive living experience for residents.
The first budget of the strata company will be prepared by the Strata Manager alongside the Council. Typically, this budget is lower due to the fact many of the items are under warranty. Following preparation, it is approved by all owners at the General Meeting. The second Annual General Meeting will be arranged to approve the budget and levies for the upcoming financial year. As expected, this budget is slightly higher due to items that require maintenance after the first year.
When the strata company has defects, a report is produced for the builder to rectify. If these are not addressed, your Strata Manager can help you find the right Builder to lodge the defect report with the Building Commission. When your Strata Manager has a good understanding of this process, you can trust them to work with the builder to ensure any defects are fixed in a timely fashion and the strata company maintains its high quality.
Have more questions about developing strata or want to engage an ESM Strata Manager for your upcoming development? Give us a call on 08 9362 1166 or email us at firstname.lastname@example.org. You can also learn more about strata by visiting the News and Resources page on our website.