Strata management, an innovative concept which took its roots in the state of NSW in Australia has evolved into a house owner friendly initiative by having gone through a lot of amendments. Further, new rules keep coming up to safe guard the interest of the lot owners by facilitating fast resolution of disputes which thus helps in building an environment that is conducive to peaceful co-existence.
Apart from the Conveyancing Act of 1961, the other relevant legislations which help in strata management are as follows:
These are few of the latest rules implemented by the Government for the successful running of the scheme.
Strata management which entails the day to day running of a scheme which in turn refers to the legal ownership of a part of a building more commonly known as a lots. The individual lot owners have their ownership or property certificates for their lot and at the same time to share the joint ownership over the common property and common facilities.
Managing a strata schemes, especially for the medium and large ones is not an easy task. Though some people are not in agreement with the hiring of a professional management company, they should understand that there are a lot of intricacies involved in the running of a property. It involves great responsibility, requires detailed attention and time.
Strata management companies are capable of handling the running of different strata schemes- residential, commercial and neighborhood schemes. So with their diversified knowledge the strata managers are able to handle any kind of work related to strata schemes.
While staying in a strata scheme one might understand its intricacies to some extent but to deal with every day work, rules and regulations require knowledge professionalism and unique qualities of each scheme.
Once you have struck up a deal with a reputed management company you will have a deeper understanding of the works performed by them. So any doubts that arises about cost cutting should be put to rest and you can go about with your daily business with a clear mind; being assured that you can go back home and relax in a problem free environment.
Now let’s analyse what strata management encompasses:
So, you will be doing yourself a favour by hiring the best possible strata management agency, which apart from giving you a peaceful and problem free environment will also help in enhancing the value of your property.