What is the benefit of having a professional strata manager, rather than self-managing the owners corporation? NSW
The legislation governing owners corporations and the compliance requirements are quite complex. Self-managed owners corporations are expected to perform the role of a property manager, with the expertise of a lawyer, valuer, insurance broker and accountant on tap.
In addition, owners corporations are well advised to make short and long term plans for ongoing, periodic, routine and urgent maintenance management. For owners who may have other jobs, getting to grips with all this can be daunting. That’s why many owners corporations are moving away from self management and turning to professional strata managers to assist with finances, insurance, administration, meetings and maintenance functions. Occasionally they are appointed to solve intractable problems, including those involving relationship breakdowns between lot owners.
Strata managers are experts and knowledgeable in the administration of all aspects of owners corporations. They work to ensure owners corporations are compliant with their legal responsibilities, enhance community living and strive to protect owner assets.