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Benefits of Strata Management
Business

Benefits of Strata Management 

With so many different strata and strata management solutions available, it can be difficult to know which one is best for your property.

This article will help you understand the benefits of strata management and how you can take advantage of them to improve your property.

Stratas

The term ‘strata’ refers to a building or property that is owned by a strata corporation, which has been formed to manage a property or building and to determine the ownership and benefits of the strata members, usually in accordance with state legislation.

Stratas are created for different reasons, but usually involve the organisation of a building or property into a number of different units.

strata management

The most common reasons for a strata are to:

  • provide for the maintenance and repair of the property or building
  • encourage the development of the property or building
  • ensure that the owner of the property or building receives certain benefits

There are many different types of strata, including:

  • Common Ownership
  • Sale and Leaseback
  • Superblock
  • Single or Multiple Dwelling
  • Single or Multiple Apartments
  • Single or Multiple Apartments with a Common Area

Strata Management

Strata management is a process of administering, managing and maintaining a strata scheme. It includes

  • the preparation and presentation of reports and records, including the distribution of information to owners, directors, managers and the council.
  • the preparation of the strata plan, the preparation and distribution of strata minutes, and the maintenance of records and other documents required by the strata corporation.
  • the performance of tasks such as the preparation of budgets, maintenance and repair of the property, the preparation of correspondence, meetings and reports, and the application of strata fees.

Stratas are usually managed by a strata corporation, which is a separate legal entity from the property owner. A strata corporation is required to comply with strata laws and strata management standards, including the preparation of strata minutes, and the performance of tasks such as maintenance and repair of the property.

The most common type of strata is the common ownership strata, which is generally used to manage a building or property owned by a group of people or company. This article explains the benefits of strata management.

Strata management provides the following benefits:

Increased property value- Strata management has been shown to increase the value of a strata property by up to 20% within three years.

Improved asset management- Strata management provides an easy way to manage and maintain assets such as the roof, doors, windows, doors and hallways.

Increased capital growth- The costs of strata management are usually charged to the strata corporation as a fee, which is usually collected at the time the strata is formed. This can increase the capital growth of the property.

Improved strata compliance- Strata management is a requirement of most strata corporations, which is why the benefits are so significant.

Increased strata renewal- Strata management is required to maintain the property and protect the owners’ interests.

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