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Strata management, often known as body corporate management, is a system of managing multi-unit properties such as for example apartments, townhouses, and commercial buildings. In this technique, the property is split into individual units, all of which is owned by way of a different individual or entity. The normal areas of the house, including the lobby, elevators, and swimming pool, are collectively owned by all unit owners and so are managed by way of a strata management company.
Among the primary responsibilities of strata management is to ensure that the common areas are properly maintained and repaired. This includes tasks such as for example cleaning, landscaping, and fixing any structural conditions that may arise. Strata management companies are also in charge of collecting fees from unit owners to cover the expenses of these maintenance and repair tasks.
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Another important role of strata management is to enforce the rules and regulations of the house. This includes making certain unit owners adhere to the bylaws and rules of the property, such as for example noise restrictions, pet policies, and parking regulations. Strata management companies may also handle disputes between unit owners and help to mediate conflicts.
If you own a property that is managed by way of a strata management company, you should understand your rights and responsibilities as a unit owner. You should become acquainted with the bylaws and rules of the house, and make sure you are paying your fees promptly to avoid penalties. It's also advisable to communicate regularly together with your strata management company to make sure that any maintenance or repair issues are addressed regularly.
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