Strata title management features
Before the arrival of 1961 strata management act, Australians were not happy with the ideas of strata properties, where people don’t have enough privacy. This dissatisfaction among people introduced the 1961 strata title management.
The 1961 strata Act, made few changes in the structure building of apartments. According to the act the building was subdivided into strata lots and the owner of the particular part of the building was entitled to a certificate of the title. The strata title owners are free to do anything with the property and have some degree of freedom.
There are two points which made the strata title to be employed and those are separate property and ordinary property. The separate property consists of apartment, garage or any storage areas where as ordinary property covers everything which is situated on the property like ordinary stairways, parking areas, driveways, roofs and yards etc.
Strata title management Act was created for managing all legal portions of the building, which is named as lots and this includes, villas, residential as well as commercial strata management firms, units, town houses , factories, retail shops, warehouses etc. Who are adopting strata title management schemes they are becoming a member of the corporate body, where they take a personal interest in the issues and interests of the owners. The corporate body selects one person as their manager who manages all the strata community services in the building and administers the common areas of subdivided buildings.
The strata title management scheme consists of strata lots, where the lands are owned by the owners who formed the body corporate or a strata management company. The strata companies set by following acts, according to which the company must keep proper account of the money received and expanded and provide an income expenditure statement for managing more transparency.
The strata title management has ranges of property management services where as strata maintenance management is the first one to attract a number of customers, which is includes all the maintenance work and supervision of work in the strata property. The firm also needs to manage financial management which needs to work on the financing and account of the property. During the strata property management, the strata managers also deal with detail work in property Ownership or tenancy services such as preparing the assessment list, rental and tenancy period and etc. next, where, units need to be rented. The strata management promotional activities are carried out to create interest in the units by targeting the property market.
Strata title management is about varies data of the property to be recorded and the property management effectiveness is depending on the availability of the good record system. The strata management not only works for managing and interacts with the service providers but also implement the improved strata methods to improve people’s life.
The management corporate body has an executive committee, where decisions are taken on behalf of all owners for the betterment of their strata community. The owner’s shares responsibilities together and agree on discussing matters. The strata title management is also called as Body corporate management.
Christopher Whelan is Licensed Strata Manager at Whelan Property Group Pvt, Ltd, has years of experience in the marketing and trading strata property Sydney industries. His online and offline knowledge regarding Strata title management and schemes makes him a great resource for strata property dealings.
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