If you are a property owner or resident in a strata scheme, it is important to understand the differences between residential strata services and traditional property management. Knowing these differences can help you value the unique benefits that each option offers. In this blog, we will take a look at these differences to help you make informed decisions about managing your property.
What Are Residential Strata Services In A Nutshell?
Strata services are specialised property management services provided to meet the requirements of strata scheme owners and residents – including overseeing common areas and ensuring compliance.
A Broad View Of Traditional Property Management
Traditional property management, on the other hand, covers a broader range of services that accommodate various types of properties, including industrial, commercial, and residential. Traditional property managers handle tasks such as rent collection, tenant screening, property maintenance, and financial management.
Notable Differences Between Strata Services And Property Management Services
- Focus On Common Areas
One key difference between strata services and traditional property management is the focus of their responsibilities. Strata services mainly focus on managing common areas and shared facilities, such as entrances, hallways, gardens, and recreational areas. Traditional property management, on the other hand, focuses on managing individual units and the landlord-tenant relationship.
- Compliance With Strata Laws And Regulations
Strata services providers are experts in strata laws and regulations and ensure that the property complies with them. They handle matters such as convening and conducting meetings, maintenance, safety, financial control, record-keeping and enforcing bylaws. Traditional property management, while also familiar with relevant laws, may not have the same level of expertise in strata-specific issues.
- Community Communication
Strata services often play a vital role in building a sense of community among residents and creating a happy living space. They facilitate communication between owners, tenants, and the strata committee and help to resolve disputes.
While both strata services and traditional property managers aim to provide effective management solutions, their approaches and areas of focus differ. Knowing and understanding these differences can help property owners and residents choose the right management option for their needs.
Contact Westside Strata Management today for customised residential Strata services. We have the people and the systems to ensure your peace of mind.
