Professional strata management company Adelaide employs systems and procedures designed to manage the day-to-day operations of your building or community, with industry expertise and proven operational procedures providing efficient yet cost-effective solutions for both owners and residents.
Choose a company with rigorous accounting protocols and promote financial health and transparency. Ask about their internal ethics program and their approach to meeting RESA/RECBC rules compliance.
1. Transparency
Reputable strata management company Adelaide implements processes and systems to ensure they operate transparently, including developing relationships with reliable insurance providers and following fair procedures when working with contractors.
The best companies will also ensure financial transparency by providing clients with monthly strata statements and detailed financial tracking, in addition to having separate accounts for operations, contingency reserves, and special levies.
2. Experience
An effective strata manager is capable of handling even the most challenging and complex strata issues with ease and compliance with all relevant Strata Laws, fire safety and WHS regulations, as well as levies and contributions administration requirements.
Professional strata management company Adelaide specialists can also aid the council in streamlining daily tasks and saving both themselves and residents time in doing so.
3. Expertise
An expert strata management company can offer expert guidance in terms of financial matters. They can assist with creating budgets and paying invoices.
Licensed property managers must keep up with ever-evolving legislation surrounding strata and community title properties. They can set up trust accounts, administer them on your behalf, conduct audits and prepare audit reports, as well as manage insurance matters such as sourcing premiums.
4. Teamwork
Your strata management team at your property benefits from being part of a network of 19,000 communities across North America. It allows them to form lasting relationships with service providers, negotiate savings agreements and effectively resolve complex issues within your community.
Team members ensure all communication/documentation is clear, private, and centralised for easy management, providing council members with more time to focus on strategic initiatives.
5. Flexibility
License strata managers must abide by RESA and RECBC rules, which outline what they can and cannot do in their roles. They must provide clear and complete information about their services to avoid miscommunication that could lead to future difficulties.
Professional strata companies employ rigorous internal financial management protocols designed to safeguard the health and stability of your owners corporation. Furthermore, they can negotiate competitive vendor and contractor rates.
6. Transparency
An effective strata management company operates in full transparency. They disclose any referral fees they may receive from contractors or insurance providers when recommending them to clients.
Strata managers must possess the ability to mediate disputes between residents, negotiate competitive service provider rates for owner’s corporations and manage detailed bookkeeping, budgeting and monthly financial reporting tasks for owner’s corporations.
7. Exceptional Customer Service
An effective strata manager can assist owners in managing complex issues with ease using their property knowledge and legislation expertise. They provide advice regarding budget preparation, invoice payment and financial account maintenance, among other issues.
Search for an organisation with excellent customer service. Inquire as to their process for handling requests, and see if you can reach someone quickly.
8. Expertise
An outstanding strata company should enlist a team of specialists to support its managers, enabling them to handle daily activities more efficiently and provide exceptional services for residents.
Security protocols can also help reduce risks and liabilities to the owners’ corporation and help resolve disputes through mediation, adjudication or tribunal proceedings.
9. Transparency
Professional strata management companies focus on cultivating relationships with vendors to secure competitive rates and lower maintenance and repair costs while prioritising transparent reporting of financial transactions.
Standard operational procedures are established to help address complex issues within a property and to maintain legal compliance. It may involve performing basic book-keeping tasks like creating budgets and paying invoices. Being transparent signifies honesty; thus, hire a company that is transparent with all the transactions.
10. Expertise
A great strata management company will have a team of specialists who can support the efforts of the manager. They can offer advice and best practices while efficiently resolving complex issues.