With the number of residential properties under strata title in Australia numbering the hundreds of thousands, you could be forgiven for thinking that by now, the general public would be well educated in the concept of strata title and the rules around it. However there are still many misconceptions and a general lack of knowledge about the rules and regulations that provide structure to the various activities involved in running a well-managed strata title scheme.
This is where the knowledge, experience and expertise of WA Strata Management become invaluable. WA Strata Management is an organisation specialising in providing professional strata title and body corporate management services to their clients. As members of the Strata Titles Institute of WA, the peak industry body representing people working in the strata title industry, they are bound by a code of ethics which provides assurance to their clients that they act with honesty, integrity and professionalism in all their business dealings.
Put simply, a strata title is the form of ownership devised when a property is divided into separate and individual dwellings (or business premises in the case of commercial property). The property owners hold separate title over their own lot and the common areas are owned collectively. As a lot holder, the owner automatically becomes a member of the strata company and as such, responsible for not just their own lot, but the whole complex as part of a collective. The members elect a Council or body corporate to represent them with duties and responsibilities set down by legislation.
This type of ownership has given rise to the establishment of companies such as WA Strata Management. With large complexes now housing sometimes hundreds of units with separate titles and different owners, the process of efficient management of the complex is almost impossible for the Council to perform themselves. Legislation gives the Council the power to appoint a strata management company and the authority, responsibility and accountability for the sound management of the complex can be delegated to a professional strata manager for an agreed fee.
WA Strata Management excels in this area, with staff trained in all aspects of managing strata companies and having detailed knowledge of the legislation, regulations, codes of practices and the reporting mechanisms they require. They provide advice to the Council and make decisions on their behalf regarding executive duties which, by legislation, are the Council’s responsibility. The day to day operational management of the facility is performed by the strata manager employed by WA Strata Management.
This arrangement works very successfully in most cases. Many unit owners are investors who live interstate or overseas, and are not interested in being involved provided their asset is looked after and their responsibilities and liabilities covered. The successful running of a large complex requires people with business administration experience and knowledge of financial accounting and management systems. WA Strata Management has excellent management systems which enable the strata manager to report regularly to the Council as required by legislation.
As the only local strata management company with full time, fully qualified strata title managers, it is really a no-brainer to choose WA Strata Management to assist your Council to discharge their legislative responsibilities. WA Strata Management will be happy to take your call and show you how they can assist your Council.