Maintaining a strata tilted property can take a lot of effort and time which is why there are dedicated strata management companies that you can rely on. But there can be certain things that can go wrong when you choose the wrong company. Even when a company seems perfect on paper, they may not be ideal for your property. However, you can switch to a new company based on the contract you have with the current company. There are certain signs to watch for that will let you know it is time to make the switch.
You need to have a strata manager that is able to communicate effectively with the residents, owners’ corporation and other external stakeholders. You can read more about Strata United to get an idea of the services they can provide for efficient management of your property and ask them about the mode and platform of communication used. When a strata manager is unresponsive or doesn’t communicate important information at the right time clearly, it can be very difficult to work with them. They should be able to keep the strata committee and the residents informed of certain day-to-day operations of the property and miscommunication or non-responsiveness can be a huge obstacle to proper management.
Not every strata management company will have the same expertise or experience.
When choosing a manager, you need to make sure that they have worked in a similar strata property before with a similar scale. Otherwise, they will not be equipped with the same skills to manage a property of your scale and efficiency of management can drop. They should also have a strong understanding of strata law and regulations to be able to advise the strata owners’ and the residents when needed. To keep a strata titled property up and running in good condition, you need to make sure that routine maintenance and repairs are carried out. And failing to address issues and concerns of the residents when it comes to repairs can make them feel as if their voice is not heard. Also, not carrying out required maintenance can bring down the condition of the property and affect the property value negatively.
Financial management is another aspect of strata management
And if the strata management company you have hired is not managing the finances property, it may be the time to switch to a new company. Some of the issues you may have are not being provided with transparent financial reports or being charged excessive fees. There has to be a transparent approach for managing finances. There has to be good relationships between the manager and the residents so that they are able to communicate professionally with each other. This will assure the residents that their concerns are valued and they will also be provided feedback in a timely manner. When this doesn’t happen, it can break the relationship down and cause a lot of conflicts. You need to make sure that the strata management company you hire prioritises the satisfaction of the residents.
