Despite the fact that the two terms are used interchangeably by some, a strata manager and a property manager have very different roles and responsibilities. A strata manager represents a group of property owners as a whole, while a property manager represents individuals, liaising between a tenant and an owner of the property. Both are key in efficient strata and property management, and here ACTON Corporate looks deeper at these roles, and explains the difference between the two.
In order to explain the role of a strata manager, let us first define the strata. A strata company is composed of the units in a multi-unit building, with these owners being known as the owners’ corporation. While each owner is responsible for their individual unit, the strata company looks after the property as a whole, with concerns for the common areas as well as legal responsibilities such as insurance and rates.
Strata managers are responsible for representing the owners’ corporation, not any one individual owner. They serve to manage the legal, financial, and social aspects of the owners’ corporation. The strata manager is charged with the entire administrative side of the strata, including holding meetings, communicating with owners and tenants, dealing with all correspondence, lodging insurance claims, and archiving all records.
Strata managers are also responsible for finances, including establishing budgets, managing accounts, monitoring payments and arrears, and maintaining and paying competitive insurance rates. On the social side, they deal with any disputes between tenants, enforcement of strata bylaws, and the maintenance and repair of common grounds, including pools, BBQs, gates, and gardens.
A property manager has a clear role working between the tenant and the owner of a property. They work on behalf of the owner, and act as liaison between the two parties – collecting rent, negotiating lease renewals, and resolving any disputes. The property manager also inspects the property regularly to ensure it is kept in good condition, as well as arranging for any repairs and service to be carried out. The property manager works to protect the interests of the owner, and keep the tenants happy in the property.
Strata and Property Management with ACTON
Both the strata manager and the property manager have an important role to play in residential owner-occupied and rental properties. The strata manager is working on behalf of the owners’ corporation, maintaining all records, managing finances, and working to resolve any and all disputes that may arise with tenants and owners within the strata corporation. They represent the property as a whole, maintaining common areas and keeping all parties in line with any strata by-laws. Property managers represent an individual owner, and liaise between the owner and the tenant. They collect rent, manage leases, and inspect the property and arrange repairs as needed.
ACTON Corporate offers both strata management and property management services in Perth. Our highly skilled experts can help you navigate these areas so your property runs efficiently. Contact ACTON today to get in touch about your strata and property management needs.