STRATA MANAGER vs. PROPERTY MANAGER
The difference between strata managers and property managers
If you live in or have investment properties in an apartment building, you’ve likely come across both strata managers and property managers. There are key differences between strata managers and property managers, and it’s important to know the roles and responsibilities of each so you know who to contact and when. Keep reading to learn about the differences between strata managers and property managers.
What is a strata manager?
A strata manager is a professional who is responsible for managing the common areas and facilities of strata-titled properties, such as apartment buildings or townhouse complexes. Strata management involves a range of tasks, including coordinating repairs and maintenance, managing finances and budgets, enforcing strata bylaws and regulations, and liaising with owners, tenants, and contractors.
Strata managers work closely with strata committees, which are made up of owners in the strata scheme, to ensure the effective and efficient management of the property. They may also be involved in organizing meetings and communicating with owners and tenants, as well as providing advice and guidance on strata-related matters. In Australia, strata managers must hold a license or certificate of registration and are regulated by state-based legislation.
What is a property manager?
A property manager is a professional who is responsible for managing and overseeing rental properties on behalf of property owners or landlords. The role of a property manager can involve a range of tasks, including marketing and advertising rental properties, screening and selecting tenants, collecting rent, and coordinating repairs and maintenance.
Property managers are responsible for ensuring that rental properties are well-maintained and comply with relevant laws and regulations. They may also be involved in negotiating leases and rental agreements, handling tenant complaints and disputes, and representing the owner's interests in legal proceedings. In exchange for their services, property managers typically receive a percentage of the rental income from the property.
What are the differences between strata managers and property managers?
As outlined above, strata managers look after the building as a whole, making sure that disputes between owners are settled swiftly and the building’s administration, compliance and finance are all effectively managed. In contrast, a property manager looks after everything inside your property, such as repairs and maintenance and finding great tenants.
Both strata managers and property managers play a vital role in ensuring your investment is well looked after. Whether big works are coming up throughout your building, such as painting or lift maintenance or you’re needing to make repairs inside your property, having open communication with your key stakeholders will help you make sure your property is always in good condition and disputes are resolved quickly. If you’re looking to speak to someone about work on your building or property, use the guide above to help you contact the right person.
Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.