The establishment of a strata scheme is not an ending but a beginning.
Just because a strata is well-formed does not mean it will be successful. That is because strata have varying structures and needs, which require careful and knowledgeable management to navigate and take care of. That is why an entire strata industry has sprung up around strata schemes. It contains a myriad of strata professionals like body corporate managers.
Running a strata can be difficult, especially if you lack the experience to do so. That is the primary dilemma that body corporates face. Typically, members of an owners’ corporation do not know the intricacies of strata management, yet the group is tasked, by law, with doing just that. As a result, some people found a work-around by hiring professionals known as strata managers. The managers’ expertise in the field allows them to be better versed in running strata, allowing a more efficient operation. Now, owners’ corporations throughout the country prefer to engage the services of a body corporate manager.
What Does the Body Corporate Manager Do?
The primary responsibility of a body corporate manager is to take charge of the strata scheme’s day-to-day operations. This requirement encompasses a host of duties, including:
General property maintenance: A strata manager is responsible for maintaining the common property. They may achieve this by seeking the owners’ corporation’s approval to contract technicians like gardeners, builders and cleaners to perform certain tasks. In some cases, and based on contractual agreements and specific instructions, a strata manager can make and approve some minor maintenance and repair decisions without prior approval.
Financial management: A lot of money moves through and within owners’ corporations and strata schemes. These funds are all crucial for running the strata. Therefore, a strata manager must take good care of them to avoid losses and overspending. Consequently, the body corporate manager becomes the strata’s primary financial manager. They collect membership dues, set budgets, manage and pay invoices, ensure adequate insurance coverage and certify that all the body corporate’s financial obligations are met. In addition, the manager must keep accurate and up-to-date records.
Administrative duties: This covers many roles and tasks like scheduling body corporate meetings then sending out notices and reminders before recording the minutes. Furthermore, a body corporate manager is the strata’s primary correspondent and record keeper. They are also tasked with filing insurance claims and following up on any progress. Finally, they distribute pertinent information to residents and enforce the strata’s by-laws.
Social responsibilities: Strata managers also interact with residents to foster harmony. In addition, some organise social gatherings where they may collect feedback on any improvements to be made. Additionally, they are responsible for settling disputes between owners by acting as a mediator.
In essence, body corporate management often mirrors the strata’s needs and moulds itself based on the mandates handed down by the owner’s corporation. After all, it is the best way to ensure a thriving community.