Due to the high cost of living today, many people opt for DIY projects to save money and have a sense of accomplishment. But if you think that managing your own strata will save you money, you should think again. Managing a stratum involves a lot of time and effort, and you may face a lot of legalities in the process. That’s why you should rely on a professional strata body corporate service to manage your strata development project. Here are some of the many benefits of working with a professional strata body corporate service to manage your strata development project.
A body corporate manager has a challenging job that involves a lot of time and effort as well as a lot of legalities. Trying to manage one on your own isn’t a wise decision due to these reasons. Make sure you work with a professional and experienced service provider in the region to get the best results for the money you spend on the project. Here are some of the numerous responsibilities of a strata body corporate manager:
Property management and maintenance are one of the top responsibilities of a body corporate manager. He or she should ensure that the people occupying the strata property are living comfortably. The property’s upkeep is the main job of the strata manager. He/she should obtain quotes from contractors, builders, cleaners, gardeners, and others in relation to maintaining the property. The strata committee should approve the quote before the manager can hire a specific contractor for the project. The body corporate manager can approve minor maintenance expenses for emergency repairs without prior approval.
Keeping custody of records and updating them is another responsibility of the body corporate manager. The Strata Management Act stipulates that the following documents should be maintained for not less than seven years: Notices of strata committee meetings, copies of all correspondence sent or received by the corporation, the minutes of each and every strata meeting with the motions passed, voting papers related to the motions, proxies that are delivered to the strata council, the signed agreement between the strata manager and owner’s corporation, and the records that the manager hands over to the owner’s corporation.
Financial management and taxes are another responsibility of the strata manager. Property insurance, utility bills, and maintenance costs are handled by the manager. He or she should prepare the budget and submit it to the owners’ corporation committee for necessary review and approval. The manager should also monitor all invoices and make the payments on time.
Setting up meetings and the administration of the property should be done by the strata manager. He or she should correspond with owners on property maintenance issues notice of meetings, periodic levies, and other administrative tasks. They should handle queries from property buyers, too.
If you are searching for a reputable and experienced strata body corporate service, you have come to the right place. Make sure you work with a reputable strata management service to manage your strata development project.