Strata management
Encyclopedia
Strata management, sometimes known as "body corporate management" is a specialist area of property management
involving the day-to-day operation and management of a property that is jointly owned and comprises multiple units, common areas and common facilities.
The successful management of such developments requires the establishment of a strata title
system to provide a framework for ownership, and guidelines to manage developments with multiple users and owners.
Many jurisdictions adopt the concept of jointly-owned property. Owners in these types of schemes automatically become members of an Owners’ or Community Association. These associations ultimately bear responsibility for the maintenance and management of common areas such as lobbies and corridors, and shared leisure facilities such as swimming pools and gyms. They are also responsible for running the administrative and financial aspects of the property.
The Strata Manager's role is to work with the Owners’ Association and Board to successfully control, manage, maintain and administer the property and to create an appropriate community environment and includes tasks such as:
Property management
Property management is the operation, control of ususally on behalf of an owner, and oversight of commercial, industrial or residential real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its usable life and condition...
involving the day-to-day operation and management of a property that is jointly owned and comprises multiple units, common areas and common facilities.
The successful management of such developments requires the establishment of a strata title
Strata title
Strata title is a form of ownership devised for multi-level apartment blocks and horizontal subdivisions with shared areas. The 'strata' part of the term refers to apartments being on different levels, or "strata"....
system to provide a framework for ownership, and guidelines to manage developments with multiple users and owners.
Many jurisdictions adopt the concept of jointly-owned property. Owners in these types of schemes automatically become members of an Owners’ or Community Association. These associations ultimately bear responsibility for the maintenance and management of common areas such as lobbies and corridors, and shared leisure facilities such as swimming pools and gyms. They are also responsible for running the administrative and financial aspects of the property.
The Strata Manager's role is to work with the Owners’ Association and Board to successfully control, manage, maintain and administer the property and to create an appropriate community environment and includes tasks such as:
- General accounting
- Budgeting
- Invoicing of levies/service charges
- Arrears collections
- Financial reporting
- Contract management
- Meeting preparation
- Communication with property stakeholders
- Coordination of maintenance tasks
- Enforcement of rules/by-laws
- Issuance of notices, orders and certificates
- General secretarial tasks
Management Tools
Strata managers typically use specialized management tools to manage their portfolios. Some of these tools include:- StratawareStratawareStrataware is a strata title management application, it is the first software of this type to be developed on a SaaS platform. It is developed and supported by Mystrata Pty Ltd, Brisbane, Australia.- History :...
- MyCommunity
- Association Voice
- StrataMax
- Strata Master
See also
- CommonholdCommonholdCommonhold is a system of property ownership in England and Wales. It involves the indefinite freehold tenure of part of a multi-occupancy building with shared ownership of and responsibility for common areas and services. It has features of the strata title and the condominium systems, which...
- Condominium (housing)
- Strata TitleStrata titleStrata title is a form of ownership devised for multi-level apartment blocks and horizontal subdivisions with shared areas. The 'strata' part of the term refers to apartments being on different levels, or "strata"....