A strata is the term given to define the ownership of a real estate entity that is contained within a larger development or land parcel in conjunction with other individuals to form a unified collective.
For individual owners, their claim to a definitive piece or aspect of the overall development is defined in a legal document that is known as a strata title, or a strata lot. This title, in turn, is combined with other strata lots to make up an overall entity known as a strata scheme.
A strata scheme’s membership consists of all owners within the scheme. Effective running and governance of this larger unit therefore becomes paramount. This collective becomes responsible for the establishment of a living community that is run under rules and guidelines set about by the owners in order to have a cohesive living environment for all those who reside in the strata scheme.
This collective, once it is gathered and fully formed, is now called an owners’ corporation. The owners’ corporation, named so as it only consists of lot owners and not tenants of the strata scheme, is legally responsible for the operation and maintenance of the common areas of the scheme as a whole.
According to www.stratatitle.com.au the owners’ corporation is also refereed to as a strata, or as a body corporate. Making reference to any of those terms describes the same thing no matter where you use it.
Taking into consideration the fact that a body corporate consists of a number of people, majority of whom may not be conversant with the proper running of strata; how are they, then, expected to uphold their mandate in a proper and efficient manner for the benefit and comfort of all those within the strata scheme as a whole?
This is where the introduction of a strata manager is pertinent. Contrary to common assumption, the titles of the strata manager and property manager do not refer to the same thing. Strata managers are tasked with the operation of the strata scheme as a whole, including the maintenance of common areas and proper record keeping for all documents that are to do with the operation of the strata scheme. They are also placed in charge of the collective finances of the strata and must oversee their accounting.
For property managers, their services are typically more individualised. An individual owner within strata may hire on a property manager to take charge of the upkeep of their unit. If this is the case, it must be noted that while a property manager may operate in a unit that is part of strata, their authority cannot carry through to other units within the body corporate, unless they are specifically hired to do so. A property manager cannot make operational decisions that would affect the strata as a whole. This falls outside the scope of their mandate. Their role and that of the strata manager do not overlap and cannot be interchanged.
The difference between strata and a body corporate is the same. This goes right down to the main concern in the establishment of proper strata. That is how well it is run. The best way to achieve this desire is to seek out strata management that provides exceptional services and prides itself having on a consistently superior product.
Bonus Tip: Ways to Improve Your Body Corporate Management Skills
Okay, we explained some things in theory. You now understand both terms, strata and body corporate. However, theoretical knowledge is not going to help you a lot in the real world. In some moment, you will see that your body corporate management skills require improvement. That is the only way to ensure that everything goes according to plan. Because of that, we recommend you apply the tips from below.
Work on the Communication
We do not know exactly where your body corporate offices are located. However, you can be sure that everyone respects a high quality of communication. This includes everything from regular calls and meetings to newsletters. The body management is responsible for all types of tenants.
The tenants need to ensure that everything around the property is fine. However, when troubles occur, they need to ensure that those pieces of information reach every individual that can solve the problem. In case the communication is not good, there is a big chance some sort of disconnection will occur. You probably understand how harmful that can be for the body corporate.
The Contractors You Work With Need to Be Skilled
Well, here comes something that you need to have in mind all the time. Contractors will be necessary all the time to complete some simple jobs like panting. However, they will also need to do some checks that can potentially slow down the work in some parts of your building.
So, don’t hesitate to spend a bit more time on finding the best electricians, decorators, painters, and other individuals that can help you improve everything in and around your property. The issues we mentioned are not always going to be expected. However, if you know who can complete the job and solve the problem for a short period, you will be ready for any potential trouble.
Understand Properly Your Responsibility and Role
Well, this may seem easy in theory. However, you need to understand properly all the aspects of the body corporate role and ensure that you continuously improve your knowledge and skills. In every moment, a strata manager needs to understand what his main tasks and priorities are, the way he needs to communicate with the tenants, etc. In that way, there won’t be any misunderstanding + it can be motivational to know all the tasks in every moment. You will be sure you are accomplishing your part of the job properly.
Imagine What Type of Strata/Body Corporate Manager You WOuld Like to Have
Last but not least piece of advice is to do small self-talk. You should imagine a couple of potential situations could imagine, and, then, imagine a type of manager that you would like to see solving the particular problem. Of course, we do not know what exactly your expectations are, but in most cases, they are quite common. A strata manager should be open, friendly, communicative, and ready to solve any type of issue that could potentially occur. This includes everything associated with repairs, insurance, deadlines, etc. Whatever you are doing, you need to ensure it is realistic, professional, on time.