Strata Title involves the subdivision of a building into separate lots and common property (ie property shared by all the lot owners).
When a strata plan for a property such as a block of villa’s, townhouses or home units is registered, the control and administration of common property becomes vest with what is called the Owner’s Corporation. This is made up of members, who are all the owners of each strata lot or unit. Many Owners’ Corporations appoint a Strata Managing Agent to act on their behalf in the control, management and administration of all the common property.
The role of the Strata Managing Agent is to carry out the functions required by the Owner’s Corporation. Some of the more common services the Strata Managing Agent carries out are:
· To arrange maintenance repair and replacement of the common property.
· To attend to correspondence
· To prepare and serve notices of meetings or the Owner’s Corporation
· To arrange and account for collection of maintenance levies
· To attend meeting of the Owner’s Corporation
· To keep books of accounts, arrange audits, prepare statements of accounts
· To pay accounts and outgoings
· To ensure adequate insurance of the building and common property
· To maintain the Strata Roll
· To implement the decisions of the Body Corporate
The Strata Managing Agent is often called upon to work irregular hours, especially when attending general meetings of the Owner’s Corporation. An experienced Strata Managing Agent can often manage a Body Corporates’ affairs more effectively and more economically that the lot owners themselves.
Top organisational ability. A good systems person. Negotiating and arbitration abilities. Some understanding of basic bookkeeping and excellent attention to customer service.
To become a licensed Strata Managing Agent you must have completed one of the approved licensing courses and be able to show significant experience in this area. You need to be 21 years or older.