Strata managers have an important role when it comes to coordinating multi-unit developments. In addition to administration, they will keep comprehensive records and manage the finances of the strata scheme all the while keeping the property owners and residents informed.
Financial management is an important service provided by the Owners Corporation Management Moonee Ponds. There are many complexities in financial management and it requires the strata manager to have a good eye for detail. When you hire an experienced strata manager, they will be able to use the challenges they have faced in their past to come up with strategic approaches to handle potential issues. They will prepare and manage the budgets for the strata scheme and collect levies from the owners.
The financial transactions of the strata scheme will be overseen by the strata manager and they will be working closely with the strata committee at each step to ensure that the financial decisions made align with their goals and priorities. There are also financial professionals that strata managers will collaborate with. For example, they will collaborate with auditors and accountants so that they can ensure they comply with regulatory requirements. This allows them to process invoices, prepare financial reports and manage finances in order to maintain the financial health of the strata scheme.
The strata managers
Will also keep meticulous records including financial transactions, meeting minutes, maintenance records, legal documentation and correspondence. In addition to complying with regulations, this allows them to retrieve the record whenever required. This is because they store it in a systematic manner and they can refer these records to identify patterns and take proactive action. Also, if there are legal matters to contend with, these well maintained records will be very useful in resolution.
The strata manager will also maintain communication with the property owners so that they convey important updates, information and decisions to them. They are the intermediary between the owners and the strata committee and the strata manager will ensure transparency in the communication so that the owners have a good idea of what is happening in the strata scheme. The strata meetings are organized and attended by strata managers and this will allow the property owners to raise any concerns or questions.
The strata manager
Will also engage with the residents to ensure that their concerns are heard and action is taken to effect. The residents will learn about the by-laws that relate to the strata scheme and how they can adhere to these. The strata managers will communicate with residents to let them know of important notices and they will be instrumental in coordinating community events as well. They will be the residents’ point of contact and by having a strata manager that is responsive to them, this will help contribute to a positive living environment. The strata manager will also communicate with service providers to ensure that the strata property is well maintained. They will engage with contractors and oversee any maintained project taking place on the property.
