What Strata Management is and Who is Responsible For it?
Strata is an Australian innovation in property law that has since been utilized around the world.
‘Strata’ or a Strata title allows ownership to a sole individual for part of a property where shared ownership also exists. This is common practice with apartments, units and townhouses through an entity established known as a body corporate, strata company or community association.
This shared title defines the legal parameters in which ownership is shared between titleholders among owners and how tasks pertaining to maintenance and works are allocated.
Strata titles apply to developments that are either residential, commercial, retail, mixed use, serviced apartments, retirement villages, caravan parks and resorts.
What is strata management?
Strata management is a service that deals with the specialist nature of managing day to day aspects of body corporate lots. These day to day tasks generally include property maintenance, landscaping, gardening, pool maintenance, cleaning services and maintenance of shared common areas. Strata management also acts as the mediator in any disputes that the landlords may have with other title holders. Many other responsibilities fall to the jurisdiction of strata managers too such as general accounting, budgeting, invoicing, collection of arrears, reporting of financials, contract management, organisation of meetings, communication with property stakeholders, management of maintenance as mentioned before, issuing notices and orders and general administration.
Who is Responsible for Strata?
Generally the owners corporation or body corporate is responsible for the delegation and administration of strata related activities. This is why the body corporation elects or appoints a strata management company to act on their behalf for the management of strata related matters.
When it comes to the matter of maintenance and/or repairs of property strata companies have contractors on call that can attend the premises to deal with issues in the event of emergencies. At Ascend Corp we have reliable trustworthy tradespeople and contractors that can service most areas of the greater Sydney region. We understand that these issues can arise quickly and need urgent attention and we have the means to provide clients with fast responsive solutions to these problems.
What is strata data?
Strata data is a strata management company that originated in South Australia during the 1970’s.