WHO WE ARE
Waratah Strata Management is a proud member of the Beaumont Property Group.
We provide management to all residential, commercial, industrial, retail and mixed-use owners corporations, community and neighbourhood associations, and building management committees across metropolitan Sydney.
As a member of the Beaumont Property Group, we leverage the advantages of being part of a larger organisation, while retaining the boutique feel of a smaller company devoted to providing personalised and professional service to our clients.
We use the latest technology allowing us to hold our clients’ documentation securely online and make it available to owners through our portal. We are able to use online voting software in combination with online meetings to facilitate efficient meetings and enable participation of as many owners as possible via pre-meeting voting. Where necessary, treasurers can access (and approve, if preferred) their scheme’s invoices.
Our office is located near the geographical centre of Sydney, which makes it easy for us to manage properties throughout metropolitan Sydney. Where possible, we use regular contractors located close to each building to improve efficiency and reduce costs.
For our clients’ convenience, owners corporation meetings are conducted onsite, in nearby meeting rooms or at our own offices or, if desired by owners, via video/ telephone link.
For owners of existing buildings who may be considering changing strata managers, we will provide a no obligation quote and review of your scheme; we will prepare the necessary documents to conduct a general meeting of all owners and attend to the transfer and establishment of all owners corporation documents – all at no cost to you.
We are also available to assist developers of new strata properties to prepare draft strata levy budgets that can be used for unit sales and marketing; review and provide advice on draft strata plans and by-laws and conduct all statutory meetings to establish new owners corporations.
OUR SERVICES
A copy of our Management Agreement includes the full list of services provided and is available upon request and is included with our detailed quote package.
CUSTOMER EXPERIENCE
Our managers are equipped with management and administrative support to ensure that they can provide attentive service to our clients.
BY-LAWS
Our managers work closely with committees to ensure harmony within strata schemes through enforcement of by-laws where necessary.
TECHNOLOGY & SYSTEMS
We utilise the latest technology to assist us to provide the best possible service to clients and the optimal user experience. Owners and the strata committee have 24/7 access to their information via our portal; our internal technology solutions free up the time of strata managers to enable them to be accessible to our clients.
SAFETY & MAINTENANCE
We provide comprehensive recommendations and guidance on the issues that impact on the safe operation of the Owners Corporation. We have specialist teams to ensure compliance with work health and safety, fire testing and certification and insurance.
AREAS WE SERVICE
- Sydney CBD & inner city fringe
- Inner West
- Eastern Suburbs
- Gladesville-Ryde-Eastwood
- North Shore
- Northern Beaches
- Parramatta-Hills District
- South Sydney
- St George & Sutherland Shire
- Macarthur Region
- South Western Suburbs
- Western Suburbs
- Outer Western Suburbs
FREQUENTLY ASKED QUESTIONS
A strata scheme is a building, or collection of buildings, where individuals each own their own portion of the scheme known as a ‘lot’, such as an apartment or townhouse, where there is also common property.
Strata schemes vary in size, from two-lot duplex developments up to large 1,000+ lot residential developments. They can also be commercial, mixed-use, industrial, hotel and retirement village strata developments.
Within each strata scheme are individual lot owners, forming a self-governing community, and this community operates as a democracy.
The legal entity of all lot owners within a scheme is called the Owners Corporation. The Owners Corporation is legally responsible for the good management of the strata scheme.
Common property is all the areas of land and building not included in any lot. This can include external walls, roof, driveways, foyers, fences, gardens and facilities such as a pool or gymnasium.
It is jointly owned by all owners and the Owners Corporation is responsible for its management.
Owners Corporation is the name given to represent all lot owners within a strata scheme.
When you purchase an apartment, or lot, you automatically become part of the Owners
Corporation for your building.
Responsibilities
The Owners Corporation is responsible for the overall management of the strata scheme. This includes financial management, arranging insurance, conforming to strata law and by-laws, record keeping, ongoing maintenance and managing repairs of common property.
As a lot owner, and part of the Owners Corporation, you also share the ownership and responsibilities of common property with other owners in the scheme.
The Owners Corporation should hold regular meetings to discuss the scheme’s management and decide on a course of action to manage tasks required.
To enable quicker and more precise decision making in your strata scheme, every year you can nominate yourself, or vote for candidates, to form the Strata Committee at the Annual General Meeting, who will in turn represent all owners.
It is in your best interest to attend these meetings, especially the Annual General Meeting (AGM).
At the AGM, as a financial member of the owners corporation (all levies paid up to date), you have the right to vote on a range of motions in the decision making of your scheme and influence how your community functions.
As a lot owner you must financially contribute towards the running costs associated with your building and common property.
These contributions are called levies and they are payable to your strata scheme.
Levy notices are commonly distributed to each owner four times a year to meet the financial obligations of the Owners Corporation. As part of your strata management contract, your strata manager will issue levy notices to owners on behalf of the Owners Corporation.
It is important to pay your levies on time, every time. Penalty fees can be applicable for late payments. It is your scheme who receives these funds.
Ultimately, it is you, the owner.
Levies, as part of the budget, are voted on and approved by the Owners Corporation at the Annual General Meeting (AGM) each year.
Utilising its wealth of strata experience your strata manager (or community manager) prepares detailed budgets for the Committee to present to owners at the AGM. These have been carefully forecasted to assist your Committee make better, more informed financial decisions to future-proof your scheme.
It is you, the owner, who votes on and approves the budgets at the AGM, therefore setting the levies amount to be paid for the year.
Once levies have been collected from all owners, they are typically divided into two funds; an Administration fund and a Capital Works fund.
The Administration fund is used for regular payments including council expenses, insurance, management fees and payments to service contractors, cleaning, general maintenance and utilities such as power and water.
The Capital Works fund is essentially a savings account for future major expenses as the building ages. This includes painting, tiling, plumbing, carpet and plant and equipment, or the purchase of new Owners Corporation assets.
It is a compulsory requirement of state legislation to prepare a Capital Works fund budget forecast. Having a healthy Capital Works fund reduces the need to raise a ‘special levy’ to pay for unexpected costs. It makes good management and smart financial sense.
Every Owners Corporation is legally required to manage and maintain shared property and services. This includes ensuring the strata scheme is compliant with strata law and regulations.
This takes time, skill and an understanding of the complex legislation. That’s why most Owners Corporations choose to engage the services of a professional strata manager.
When contracted to a strata scheme by the Owners Corporation, your strata manager is delegated the responsibility of managing the day-to-day affairs of the scheme on behalf of the Committee.
Tasks will vary according to the management agreement, but broadly cover:
- Conducting the Annual General Meeting
- Financial management
- Technical services
- Administrative duties
There is so much more to managing your scheme, including tasks we perform behind the scenes.
Some Owners Corporations choose to engage the services of a Building Manager to oversee the onsite maintenance of the building. They often live or have an office onsite.
The Building Manager is responsible for maintaining the building, common property and shared services such as heating, air conditioning, ventilation, waste disposal, lifts, garages and utilities.
The Building Manager also oversees or undertakes onsite works and arranges for any permissions or access requirements for contractors.
The administration and management of the strata scheme may be performed on behalf of all lot owners by a Strata Committee.
The Strata Committee is a group of owners elected at each Annual General Meeting who can make many of the day-to-day decisions about running the scheme on behalf of the Owners Corporation including the control, maintenance and repair of common property.
The Committee has the responsibility of enforcing by-laws (rules), the ability to make new ones, and must budget how much money is required to maintain your building now and into the future.
Election of the Strata Committee
The Strata Committee can have up to nine members. You can be elected to the Committee if you are:
• an owner;
• a company nominee of a corporation that is an owner; or
• a person who is not an owner but who is nominated by an owner in accordance with the requirements outlined in the legislation.
A Strata Committee meeting is held straight after the Annual General Meeting to decide who is to hold the office bearer positions of Chair (Chairperson), Secretary, Treasurer and Ordinary Committee Members. Remember, it is you, the owner, who votes for the Strata Committee.
An essential and unique part of living in strata is the necessity to follow set rules to ensure all residents can enjoy their home and live safely and harmoniously together.
By-laws are the registered rules and regulations adopted by the Owners Corporation that all owners and occupiers living within a strata scheme legally must follow.
Some by-laws are set out in legislation, other by-laws are adopted by the Owners Corporation.
Each strata scheme can decide and enforce its own by-laws to suit the way its owners want to live. It’s important to understand your responsibilities and obligations.
STM can advise your Owners Corporation how by-laws can be changed, or new ones created, to meet the needs of all owners.
Common by-laws
Pets, parking, noise, renovations, behaviour of residents, use of common property, and smoking are all common by-laws found in strata schemes.
By-laws can vary significantly from scheme to scheme. It’s important you know and understand which by-laws apply to your scheme and you must abide by these by-laws.
Some by-laws, such as pets and renovations, may require permission from the Strata Committee or Owners Corporation.
BEFORE you do anything, check the by-laws, follow procedure and seek permissions.
These rules are in place to protect all residents and to promote a harmonious environment and community.