Most individuals rate an entire strata agency based on their working relationship with their strata manager, whether it’s good or negative. We’ve put up a list of questions you should ask before appointing a new Strata Agent. Most owners’ corporations rate an entire strata agency based on their working relationship with their strata manager, whether excellent or negative. We’ve put up a list of questions you should ask before appointing a new Strata Agent. Here are factors to think about before Hiring a Strata Manager:
What does the monthly management charge cover?
The majority of agencies charge a monthly management fee for agreed-upon services. Additional fees will be levied for work performed outside of the agreed-upon services. You can work out a deal with an agency to have fixed-price disbursements, so you know exactly how much your scheme will cost each year.
The Strata Manager in charge of your building should have a Certificate 4 in Strata Title Management at the very least. It might have been better obtained through a TAFE course. By paying for two weeks, you can earn a Certificate 4 in Strata Management. It’s also a excellent idea to inquire about their tenure with the firm.
When contacting a possible new agent, it’s a good idea to inquire how much experience the strata manager who will be handling your building has and how much experience they have attended mediation and tribunal hearings if something goes wrong.
How usual are financial statements generated, and how often are they provided to the entire committee by the treasurer? It should ideally be offered every month.
Agreements on Service Levels
Customer service is at the heart of strata management. Your new agent should be able to give you an estimate of how long it will take for your requests to be processed, emails to be answered, and phone calls to be returned.
Your contribution, your money
It’s your building, and you don’t want the Strata Manager to do everything, so make sure you understand how much control you’ll have over creditor payments and how much input the committee will have when the agent prepares the proposed budget.
Terms of the agreement
Most new agents will try to tie you down for a maximum of three years when they hire you. Unless your scheme chooses to pay out the remaining term of the agreement if the services do not match your expectations, you are locked in for the duration of the deal. Signing a one-year contract and seeing how things go is a better alternative.
On their Strata Charges Calculator, Strata Excellence provides a detailed list of items in their packages. Sydney Owners Corporation for Strata Management packages do not have any lock-in contracts.