Strata Management in Perth: Benefits and Considerations. Strata management, also known as body corporate management, is the management of shared property,
Strata Management in Perth: Benefits and Considerations.
As a landlord or property owner in Perth, maximizing rental income is likely to be one of your top priorities. There are several strategies that you can use to increase your rental income and maximize your return on investment. In this article, we will provide you with some tips on how to maximize rental income in Perth.
Strata Management
Strata Management in Perth: Benefits and Considerations.
Strata management, also known as body corporate management, is the management of shared property, typically found in apartment buildings, townhouses, and other multi-unit developments. In Perth, Western Australia, strata management is an essential service for many property owners and investors.
Benefits of Strata Management.
Following are the Benefits of Strata Management.
1. Maintenance and Repairs:
Strata management takes care of the maintenance and repairs of the common areas and amenities in a strata-titled property. This includes facilities like gardens, swimming pools, elevators, and common areas.
2. Financial Management:
Strata management companies have professional accountants that manage the finances of the strata company. They prepare budgets, collect levies, and pay for services and maintenance.
3. Compliance with Laws and Regulations:
Strata management companies in Perth help ensure that strata companies comply with all relevant laws and regulations. This includes building codes, safety standards, and strata regulations.
4. Conflict Resolution:
Strata management companies have processes in place to handle disputes and conflicts that arise between owners and tenants. This includes mediation, negotiation, and resolution processes.
5. Transparency and Communication:
Strata management companies provide regular reports and communication to owners and tenants on financial matters, maintenance and repairs, and upcoming projects.
Considerations for Strata Management in Perth:
1. Cost:
The cost of strata management varies based on the size of the property and the services required. Property owners should consider the costs associated with strata management when purchasing a property.
2. Reputation:
Property owners should do their research and choose a reputable strata management company that has experience managing properties.
3. Services:
Property owners should consider the services they require from a strata management company, such as maintenance and repairs, financial management, and dispute resolution.
4. Communication:
Property owners should ensure that the strata management company they choose has good communication skills and provides regular updates to owners and tenants.
In conclusion, strata management is an essential service for many property owners and investors. It provides many benefits, including maintenance and repairs, financial management, compliance with laws and regulations, conflict resolution, transparency, and communication. However, it's important to consider the cost, reputation, services, and communication of a strata management company before making a decision.
