A strata manager is someone who is bound to look after your strata owned property. These managers work for owners where they are required to perform a certain responsibilities on behalf of them. If you are someone who is looking forward to the new and one of the most demanding concept of strata management, then we are here to let you know all about strata managers’ role and why you should be hiring them. Let’s find out what that is;
Administrative Role
One of the tasks of a strata manager in Sydney is to ensure that they are following administrative tasks. These tasks could be of the following nature;
- Keeping records of owners personal and property related information.
- Insurance claim records and follow up details
- Keeping record of the meetings with tenants and the issues raised by them.
- Maintenance of property records.
Financial Management
Another key aspect of a strata manager is to focus on the cash flows with regards to the strata property. Financial management here means;
- Preparation of budget while keeping in mind the maintenance and repair costs.
- Monitoring of invoice.
- Management of insurance filing and claims management.
Tenant Management
Hiring a tenant is one of the crucial roles of a strata manager. You need to look for someone with thorough due diligence as one cannot risk when it comes to property related matters. As a result, you are bound for the role of tenant management which may include the following areas;
- Coordination with tenants with regards to their issues and resolving them accordingly.
- Focusing on tenant’s rules and regulations if they are properly being followed or not.
- Carrying out regular meetings where tenants could communicate easily and raise their concerns if any.
A lot of people tend to confuse the role of property manager and strata managers with each other however, one should understand the fact that both are separate roles. Strata managers are bound to look over multiple owners under one property whereas, a property manager is one who has to look after several properties of different owners. If you are looking for a career path and feel that real estate is your area where you can work at, becoming a strata manager is something you can ponder over. However, it is not easy to be a successful strata manager unless you are good as catering and following the above stated roles and responsibilities. If you feel you have it in you to handle so many things at once and can juggle around, then you may be the right fit for this particular job.