Building a sense of community within strata properties is vital in Sydney. Montano Strata prioritizes community engagement by organizing events, fostering open communication channels, and facilitating initiatives that bring residents together. Their approach aims to create a harmonious and connected environment within strata communities.
Managing high-rise strata properties in Sydney presents unique challenges due to their size and complexities. Montano Strata excels in tackling these challenges with tailor-made solutions, employing specialized strategies for high-rise buildings to ensure efficient operations and resident satisfaction.
Continuing with the remaining topics will allow for comprehensive insights into various aspects of strata management in Sydney, aligned with Montano Strata’s expertise and services.
Sydney is at the forefront of embracing eco-friendly initiatives in strata management. Montano Strata recognizes the significance of sustainability and green practices in preserving property value and reducing environmental impact. They implement eco-friendly strategies like waste management, energy efficiency upgrades, and the pursuit of green certifications for strata properties.
Some owner’s corporations choose to manage themselves. When this happens, a few individuals volunteer to take on the tasks that a Body Corporate Manager would have done. These volunteers may be very motivated and well meaning but more often than not, things go wrong. When building matters are left to a person that may have a stake in any outcomes, this may cause a conflict of interest. In the worst case scenario, the building may suffer from not being adequately protected against potential risks.
Below are some self-management pitfalls to watch out for.
Every strata title will accrue fees that need to be paid on time. When a body corporate is self-managed, these can go unpaid and important maintenance or repairs does not take place. This makes the building become rundown and the building can fall into disarray. Renting apartments becomes harder and the resale value of the property can also decrease. At Montano Strata Management, all our managers are meticulous with record keeping and will ensure that all fees are paid on time.
Self-managed owners’ corporations may not always know all the statutory requirements that need to be met when decisions are being made. Unilateral decisions can be made in such cases which lead to some members being disadvantaged. As a result, arguments and disputes will come up and these can be hard to mediate if only invested parties are involved. When you work with a Montano Strata manager, all disputes will be dealt with professionally and efficiently.
In the short term, this may seem like a good thing as everyone gets to save money but it can have long-term repercussions on your investment. Without proper planning, the administration and capital works fund may not have sufficient capital to cover the costs of the scheme. It is incredibly important that funding is in place to cover the monthly costs of the scheme but also to undertake repairs when necessary. A detailed budget in place will ensure the building will not degrade, and owners can continue to experience capital growth and rental returns for their investment. Keeping the body corporate fees low for the sake of having low fees is not the best long term outcome in maintain the current condition of the property.
Should the current owner currently managing the strata title decides to sell or can no longer give their time, another owner to take on the role will need to be found. A replacement can be hard to find and even harder to train to take up the job. As such, the efficient running of the strata scheme can quickly be undone. In such a case, call Montano Strata Management and we will provide the solution to efficiently manage your strata scheme.
Do you have any questions regarding residential and commercial strata management? Are you looking to switch strata managers? Not altogether satisfied with the information you’ve been getting from your current strata managers? Don’t hesitate to contact Montano Strata’s qualified team today.
Many owners in body corporate schemes question if it is necessary to get an outsider to look after the complex on their behalf. From an outsider’s view it may seem like the work that an owner’s corporation manager does can be done by anybody else but this could not be further from the truth. Today we will take a look at why it is a good idea to get a professional on the job. Below are the top 6 reasons why it is better to appoint a manager to take care of your strata title.
There are a lot of legislative requirements that must be met by strata schemes. A good strata manager is aware of any amendments or changes to these statutory requirements which can affect your strata scheme and ensures that you are always in compliance.
Every Body Corporate has day to day tasks that need to be carried out. A good strata manager will coordinate any repairs required, attend and provide minutes for all meetings. A strata manager is responsible for paying invoices as well as all the financials for the strata scheme. The manager also issues and collects levies and attends to any correspondence.
Body corporate records must be kept in line with legislative requirements. A strata manager is responsible for making sure that this is adhered to. The strata manager also ensures that any and all records are always readily available to lot owners and any other interested parties.
Finances can be tricky and if left to just anyone can result in unnecessary losses. A good strata manager prepares the financial statements when they are needed. This can be for tax audits, BAS lodgements or for tax returns. The manager takes care of the term deposits and deals with levy recovery.
It is important that each Body Corporate has insurance that covers their scheme. A strata manager obtains quotations, helps in picking the right insurance for the title, deals with insurance claims and obtains policy renewal quotations.
Sometimes issues can arise in the Body Corporate. With everyone having a stake in the outcome of any dealings that the strata undertakes, it is prudent to have a neutral party that can be objective in such cases.
Do you have any questions regarding residential and commercial strata management? Are you looking to switch strata managers? Not altogether satisfied with the information you’ve been getting from your current strata managers? Don’t hesitate to contact Montano Strata Management’s qualified team today.
Deciding which agency to hire to be your strata manager is often a difficult task. You want to find a strata management company that can professionally and promptly deal with any issues that come up. You also want to ensure they are competitively priced. To help you with this difficult decision, we have compiled a handy guide. Whether you are looking to change strata manager or looking for strata manager for a new building, keep these suggestions in mind to help you.
As with many other things in life, with strata management, you usually get what you pay for. If you get a quote from a strata management company and it sounds too good to be true, then it most probably is. Be that as it may, you must also ensure you receive value for the money. When deciding which strata manager to go with ensure you consider both these factors.
It is important to see how transparent a strata manager is with disclosing the financial performance of the strata scheme. How often are they going to send the financial reports to all owners? How much detail are they willing to explain where the funds are being spent? When deciding which strata manager to go with ensure you understand the frequency and detail of information to be received.
It is very important that you choose a strata management agency that is located close to where you have your property. A company that shares the same locale will have in-depth knowledge of the unique challenges and risks that owners face in your area and how best they can maintain your property. There will be times when your strata manger will need to attend the property to discuss complex issues.
When you are looking for a strata management agency, it is good to consider what those close to you recommend. Fellow building owners in the same area may also be useful in providing links to a great strata management service. Recommendations from trusted sources can prove to be very helpful.
Before you start looking, you must clearly know what your expectations are. If you have any other requirements other than the common aspects of strata management, these must be clearly communicated with any potential managers. Whoever you choose must be aware of all that you will require and you be comfortable that they can meet these requirements.
Finally, when you are choosing a strata manager, you must look at their qualifications and your fellow consumer’s experience. Going online and reading the reviews that may have been posted is a good source to understand how well regarded the strata management agency is.
Do you have any questions regarding residential and commercial strata management? Are you looking to switch strata managers? Not altogether satisfied with the information you’ve been getting from your current strata managers? Don’t hesitate to contact Montano Strata’s qualified team today.
We looked for answers for some of the most frequently asked questions that Owners Corporations Managers ask.
Question: Can we charge for two Owners Corporation (OC) certificates per sale-one at the beginning and one prior to settlement?
Answer: Yes, you can. This is a common procedure that occurs when a person purchases into an owner’s corporation. Many strata companies are frustrated because they pay for the first OC certificate and have to pay again for an updated one. The two, however are not the same under the law and must be treated as such. The initial OC certificate is a requirement of the paperwork that must be included in the Sale of Contract, it also ensures that the purchaser has done some due diligence.
A conveyancer must factor this into the overall cost of purchasing the property. If there are any changes to the document during the settlement period, you may need to request for an updated OC certificate which is charged for separately. The charging process differs with each company but under Section 151 of the Owners Corporation Act, a person may request for an OC Certificate for a fee. This fee may be charged per certificate issued.
Question: What fees and charges can an Owners Corporation Manager lawfully charge for?
Answer: Before appointing a new Owners Corporation Manager, each Owners Corporation signs a Contract of Appointment with that managing agent. Inside that contract, a list of charges and fees must included. Specific charges for ballots and preparation of records for termination should also be listed down. To make sure that the contract is valid, it must be dated and signed by all parties. It must also be stamped with the common seal.
The Strata Community Australia VIC (SCAV) has a list of recommended charges that you may choose to include in the contract. This will help you determine whether or not you are being charged reasonably and fairly.
Question: Our developer signed a three-year Contract of Appointment with our current Strata Management Company, but we are not happy with their charges. What can we do?
Answer: The developer is the original owner under the law. He is able to sign a three-year term contract with a Owners Corporation management company. When you take over the ownership, this contract is still valid until the stipulated time. If you are not happy with the services you are being provided with, you can discuss this with the management company. If you cannot resolve the issues at hand, you can start the process of terminating the contract and looking for new management.
Do you have any questions regarding residential and commercial strata management? Are you looking to switch strata managers? Not altogether satisfied with the information you’ve been getting from your current strata managers? Don’t hesitate to contact Montano Strata’s qualified team today.
Montano Strata is one of Sydney’s leading Strata Management firms. Boasting over 20 years of experience we help you achieve your strata scheme goals and give you peace of mind. Our professional property management services comprise the following:
Whatever type of property you have, Montano Strata experts can help to manage it. Our vision is simple – to be the number 1 provider of Strata Management services in New South Wales. As a forward-thinking property management service company our expertise is vast and encompasses all areas of real estate. Expect nothing but the highest level of service.
Adding value to our clients’ assets: this is our key mission on top of providing Owners’ Corporations with timely insight and in-depth analysis that allows them to make the best decisions for their strata.
A customer-first approach: our clients come first no matter what. We are committed to putting their strata management needs first. This laser-eyed focus enables us to deliver an enhanced experience to our clients.
Delivering effective management solutions: we take great pride in finding cost effective strata management solutions for our clients. Drawing from our rich history and experience we know what works and works best. Your strata scheme is in good hands.
Do you want to know why people need strata managing agents? In places where real estate is thriving, strata managing agents are part of the reason why those markets perform well. If you have jointly owned property, a strata managing agent can make this less stressful for all the parties that are involved. Jointly owned properties include commercial buildings, apartment complexes or condominiums. In such cases, all the owners need someone that can act on their behalf and deal with their administrative issues. Read on to find out more
This is one of the most vital duties of a strata managing agent. It is their job to make sure that all important matters are handled in an appropriate manner. They are a resource that the Owner’s Committee has at its disposal to share important information such as financial statements, community notices and any important invoices. Any important information that the Owner’s Corporation must know, a strata management agent must make sure this happens.
Strata have state regulations that they have to comply with. There are numerous tasks that are associated with these schemes that strata managing agents must complete. Financial accounts, for example, must be prepared in a way that is in accordance with state laws and regulations. There are some documents that strata are supposed to have and strata managing agents make sure that these are in order.
Each state has regulations concerning fire safety, work health and building safety that must be adhered to. Strata management agents are responsible for making sure that any tradesmen that are hired to deal with any issues on the property adhere to these regulations. If this is not done, the Owner’s Corporation may end up paying fines.
If a property has many individual units, it is effective to centralise building maintenance instead of leaving it to each owner to figure it out. Strata managing agents organise all the essential tasks so that owners don’t have to worry about these. They are in charge of hiring tradespeople on behalf of the Owner’s Corporation. Strata managing agents also deal with all insurance related issues and can submit claims or renew policies.
Each strata body must have a trust account and a common seal for their property. Strata managing agents make sure that all the owners contribute to this account so that these funds can be used for the overall management of the property. Simply put, strata managing agents are responsible for the behind-the-scenes work that keeps a strata body running smoothly.
Do you have any questions regarding residential and commercial strata management? Are you looking to switch strata managers? Not altogether satisfied with the information you’ve been getting from your current strata managers? Don’t hesitate to contact Montano Strata’s qualified team today.
Did you know that the idea of setting up Strata originated from Australia? The rest of the world then followed suit. The duties of a Strata Manager have been changing over the years. Now a Strata Manager’s responsibilities include legal issues, maintenance issues and insurance compliance. They are also responsible for assisting tenants with any disputes that may come up. For more in-depth information, read on!
A Strata Manager’s administrative duties include but are not limited to:
⦁ Dealing with all correspondence – This may be correspondence from tenants, owners and property managers within the building and correspondence from outsiders like prospective buyers.
⦁ Maintenance of common areas – A strata manager is responsible for keeping all shared areas, such as the swimming pool or gym, clean and tidy. They will be responsible for all repairs and replacements when necessary.
⦁ Circulating of correspondence – This includes serving notices of meetings, repairs to be undertaken and when by-laws are breached.
⦁ Circulating minutes from all meetings held by the owner’s corporation – The owners that attend, resolutions that have been passed, and action items that are agreed.
⦁ Managing insurance claims – A strata manager is responsible for lodging all insurance claims and following up on their progress through to conclusion.
⦁ Making sure that all records are maintained and archived – All records such as owner’s names, contact details and any work that was done on the property must be kept in a secure place.
A Strata Manager’s financial duties include but are not limited to:
⦁ Preparing budgets that will be approved by the Owner’s Corporation. These budgets must include the administration fund and capital works fund.
⦁ Keeping track of all invoices due for payment and ensuring the work is done to a satisfactory level prior to authorising payment.
⦁ Ensuring that the Owner’s Corporation pays its expenses on time and that levies are paid on time as well. Ensuring there is an escalation process in place for owners that don’t pay their levies on time.
⦁ Making sure that that the strata plan has the appropriate insurance coverage and that it is renewed on an annual basis. If an opportunity to get better insurance comes up, the strata manager must make sure this is done.
⦁ Sending the financial reports to owners on a quarterly basis and answering any questions that arise.
A Strata Manager’s compliance duties include but are not limited to:
⦁ Making sure that all tenants know the by-laws that pertain to all common property and their enforcement.
⦁ Mediation of any disputes between property owners. A strata manager must be unbiased when dealing with any such issues.
⦁ Amending by-laws when instructed by the Owner’s Corporation and making sure that any affected parties understand the changes.
⦁ Understanding the provisions of the Strata Schemes Management Act and Strata Agency Management Agreement.
Do you have any questions regarding residential and commercial strata management? Are you looking to switch strata managers? Not altogether satisfied with the information you’ve been getting from your current strata managers? Don’t hesitate to contact Montano Strata’s qualified team today.
