The success of a unit complex relies heavily on the management, maintenance and organisation of a professional strata manager. Where reputable strata management can ensure your scheme is healthy and thriving, a poor one can cause owners to become unhappy with the treatment of their property and consider a change.
Key signs to look for when considering a change of strata management include;
Late or poorly organised Meetings
Annual General Meetings are organised by strata managers as a tool for owners to discuss financials, committee voting, administration or maintenance for the complex. Late or poorly executed AGMs could mean a lack of priority and organisation from your strata manager as well as the possibility of important items being forgotten or dismissed, which in turn can cause larger issues for a unit complex in the long run.
Additionally, for larger schemes, AGMs shouldn’t be the only time that you hear from your strata manager. Other meetings, such as executive committee meetings, should also be held regularly for consistency in communication and tasks to be managed correctly.
Persistent maintenance issues
A proactive approach to strata building maintenance is a key duty of your strata manager. Signs of longstanding maintenance issues and a slow response to repairs is a direct reflection of your strata manager not being diligent. This has the possibility of creating long-term issues within the complex if a change is not made.
Lack of knowledge around legislation
Strata Companies need to be educated on current state legislation and how to practically implement it throughout your property. Laws are amended often and require a prompt, proactive response from a strata manager to avoid failing to comply and the possibility of any legal implications.
Fees/ levies in arrears
The management of levies and arrears is a key part of your strata manager’s role. A high volume of owners in arrears can be due to a lack of effort and in turn can contribute to larger financial issues for future budgets. If levies aren’t collected it can lead to expenses not being covered and the possibility of owners receiving special levies for a lump sum to compensate for a manager’s poor arrears management.
Poor financial management
Strata managers need to be ethically transparent on finances with all parties having a complete understanding into where their money is going. Your strata manager should be giving you clear access to up-to-date books and records and if you find that this is not the case or reports are unclear and don’t add up, it may be time to start searching for an option with better financial management.