Astute insights

Strata Management

Practical insights from Astute

Strata management

Strata management, is also 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. It is derived from an Australian concept of property law called strata title applied to the administration of common ownership in apartment buildings on multiple levels, or strata. Emerging markets in Dubai, Abu Dhabi, the Philippines, and India have adopted the Australian system. It is one of the fastest growing forms of housing in the United States today.

Every state of Australia except South Australia requires a proper license in order to manage a property. The purpose of this regulation is to ensure that a property manager is as well-prepared for the job as possible.

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.

Strata management, is also known as "body corporate management", is a specialist area of property management.
Arpita Desai

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' corporation and executive committee 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

Here are the services that Astute can be your best supporter of by providing the best services at economical rates so that you can focus on increasing your core strength.

We take all the burden of hiring costs and training them. Have a look on the below list of services that you can approach Astute for,