How to choose a good Strata Manager
A Strata Manager can take the hard work out of managing the day to day management of your property, but it’s important to choose the right company. The right Strata Manager should be affordable for your budget, dependable in a crisis and capable of providing the advice and service to meet the needs of your property.
Whether you’re developing a new Strata Scheme or you aren’t satisfied with your current Strata Management company, here are the five most important criteria to keep in mind when choosing a local firm that’s right for you.
Strata Managers in NSW need to be fully qualified and licensed to work on your Strata property. They should hold at least hold a Strata Licence. You should also check whether their organisation is a member of industry associations that hold them to high standards, including Strata Community Australia and the Real Estate Institute of NSW.
A Strata Manager handles the complexities of Strata management – from development consultancy to ongoing maintenance, accounting and insurance – so you need to be confident that you’re dealing with a specialist. Some agents do a bit of Strata ‘on the side’ to increase their revenue but Strata isn’t their core business focus. Choosing a specialist agent will ensure that their whole team and business are dedicated to delivering the best possible service.
Enquire about how much experience their team has and whether it’s relevant to the type of Strata Scheme you’re developing and the services you need.
3. Choosing a local agent
At Lake Group Strata, we pride ourselves in being local to the offices we operate. Our three directors all live locally in the Newcastle and Lake Macquarie areas and work actively in the business on a day to day basis. Our staff in the East Maitland office live locally in East Maitland and the surrounding suburbs.
Our directors strongly value service as our key defining factor in why we are the largest local Strata Management company. We have a team of dedicated staff and provide a value for money service. Our directors will often attend meetings where deemed necessary to provide expert advice to assist in resolving complex scenarios at no additional charge. We believe that is a service that no other local agent is able to provide.
They may look good on paper, but a recommendation from someone you trust could give you even more confidence that you’re choosing a Strata Manager that won’t let you down, especially if they manage Strata property similar to yours.
References and testimonials from clients are also useful for comparing companies – both positive and negative. Ask Strata Managers to provide contacts for current or past clients and contact these individuals to make sure you’re getting the full story.
5. Good communication
A good Strata Manager will listen to what you need from them and explain the services they offer in clear language that you understand. They should tell you whether your expectations are realistic for your budget and if there are other factors you need to know about, to avoid surprises later.
You should also let them know how much input you want on the day-to-day management of your scheme so they’ll keep you in the loop but won’t disturb you unless necessary.
6. Value for money
Like any other specialist service, you get what you pay for with a Strata Management company. The right company should be affordable for your budget while also being up front about all the costs involved in Strata Management, rather than giving you a cheap quote and surprising you with bills later.
You should only pay for the strata management services you actually need. Whether you prefer an all-inclusive service or individual services will depend on how much you want to take care of yourself and the requirements of your building.
Looking for a new Strata Manager in the Hunter?
If you’re getting started with a new property development or you want to change your Strata Manager, talk to the experts at Lake Group Strata to find out how we can help.
We have more than 25 years’ experience providing Strata Management services in the Hunter Valley and greater Newcastle area. Contact your local office in Charlestown or East Maitland to find out more.