Benefits of hiring a REIWA strata manager

Damian CollinsSponsored
REIWA President Damian Collins.
Camera IconREIWA President Damian Collins. Credit: The West Australian.

When you buy a strata property, you own your property, as well as a share in the common property.

As a strata owner, you automatically become a part of the strata company, which is responsible for looking after the common property, managing the scheme and paying the costs of the administration and upkeep of the building.

Managing a strata company is a complex and time-consuming task, which is why many strata companies choose to engage the professional services of a strata manager to perform some of the functions of the strata company. For example, collection of levies, the maintenance of the common areas at the premises, completion of financial records and provision of information when a lot is being sold.

So, what makes a good strata manager?

Firstly they should be suitably qualified – find out what education they have undertaken. While there is no licensing requirement for strata managers, many real estate agencies provide strata management services and those agencies must be licensed under the Real Estate and Business Agents Act.

The best strata management companies invest in regular training to keep up with the latest legislation and management practices. All REIWA members are required to complete statutory continuing professional development (CPD) training each year. REIWA Training offers a range of strata-focused CPD courses, which REIWA members can elect to take.

Additionally your strata manager must have the ability to guide and navigate through the recently amended strata legislation, which has imposed a number of additional requirements on the owners of strata premises.

You also want to make sure they have suitable experience in the strata management industry and administrative systems in place to manage the finances, as well as adequate professional indemnity insurance for the size of your strata scheme. Some strata managers may have experience with large apartment buildings while others might be used to smaller schemes with less than five lots.

Ensuring there is harmony amongst the owners and residents within the strata complex is another crucial role of a strata manager. A strata manager should have good conciliation and mediation skills to bring about favourable resolutions to conflicts or disputes.

Finally they need to have exceptional communication skills.

They should be approachable, transparent and able to communicate effectively with the strata council of owners to ensure positive outcomes.

If you are looking to hire a professional to manage your strata company, speak to a REIWA agent in your local area for advice.

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