Strata management and strata community management

Strata or strata title management is a concept that developed in Australia and now this innovative property law has been replicated in a lot of countries across the globe.

Under this law an individual owns a part or portion of a building more commonly known as a lot and shares the ownership of the rest called common property – foyer, garden, driveways, swimming pool etc through owner’s corporation. Property under a strata plan can be residential, commercial, resorts, retirement village or it can be mixed of commercial and residential, retail and commercial etc.

Now as there are a lot of intricacies involved in owning a lot and owning the common property jointly it has been a common practice to engage a strata management company to look after the financial, maintenance and other details that goes a long way in the smooth functioning of a strata community.

Before choosing strata Management Company it will save you a lot of trouble later if your owner’s corporation will spend sometime in research, discussion, reputation and other credentials before finalizing the deal.

These companies have their expert strata managers who deliver a high standard of service to a particular strata community and apart from working with the executive committee members they provide for personalized services and assist individual lot owners in matters of insurance, sub- letting etc.

As strata title is a complex and often a challenging area it is slightly difficult for an average person to understand all the technicalities, the different by-laws and keep abreast with the latest Govt. rules and regulations. By hiring the services of professional strata manager results in a hasselfree and friendly community life.