An adequately managed scheme goes a long way in giving you that extra peace of mind. When you have the wrong strata management, it can bring many consequences, such as:
- The shared physical facilities will be neglected and fall into disrepair.
- You and your neighbours will always be in strife, with nobody to intervene.
- Keeping up with the bills and regulatory requirements might be difficult. Sanctions, fines, and late payment interests will be the order of the day.
- Your scheme will be in financial shambles. It will be hard to tell what you owe or are owed.
- The records of your management operations will be poorly kept.
- Your neighbourhood will be an eyesore.
- The property will be hard to sell for a reasonable price if it is poorly maintained.
DIY strata management may be allowed by law but is not always the best option, especially when your owners’ corporation has many units.
A suitable strata manager can always assure that your scheme will be well run and has a chance to create a thriving community.
You can pick the right candidate for the job by following these tips.
How You Can Find the Right Strata Manager
1. Have a vision for your scheme
Every strategy starts with a vision. First, let your strata scheme’s vision be guided by its unique circumstances and the values of its members. Then, find the candidate with the proper skill set, drive, and aligned values to see the vision through.
2. They should be qualified and have relevant skills
A good strata manager must possess all the skills required to perform their duties well. The manager has to keep records, regulate meetings, pay bills and make financial decisions.
They should therefore have administrative, secretarial, and management skills, and also be a good financial manager.
3. Should have good mediation skills
A significant part of any strata manager’s job is to reconcile the community members competing interests. Conflicts may arise over which direction the community should take and the leadership to incorporate.
The most significant source of conflict, however, is over the use of shared facilities. Such disagreements are inevitable. Therefore, choose a strata manager with superior arbitration skills if you desire a harmonious community.
4. They should be available and have good communication skills
A good strata manager should not withdraw from making themselves available for their duties. They should set office hours for contact and should be willing to respond quickly to emergencies.
5. Affordable to your scheme
You should hire a manager you can afford. Different strata managers have different rates and deliver different results. Still, it is possible to get one who can provide what you want at an affordable fee. But don’t be cheap. A professional who charges more and does an excellent job is a better option in the long run. A quack who comes cheap may leave you in such dire straits that it takes a long time for you to recover.
6. Ensure they are licensed and have the necessary accreditation
Your candidate must be licensed and accredited by the relevant bodies. This indicator of professionalism assures you that they are trained and undertake to conduct themselves by a code. If they are licensed and accredited, you can count on being updated with the latest strata management practices. Otherwise, it will be difficult for them to maintain their accreditation.
7. Hire local strata managers in NSW
The local strata managers are better acquainted with NSW regulations and policies on the schemes. A local also understands your needs better. All these factors lead to more effective management.
Always approach hiring a strata manager with great care since the scheme’s success depends on them.
Interesting Related Article: “8 Tips to Find the Best Strata Property Disputes Lawyer”