Why employ a Strata Managing Agent?

The Owners Corporation has various obligations with which it needs to comply. Owners often do not have the time, skill or inclination to carry out these obligations and choose to delegate authority to manage the complex on their behalf.

A qualified Strata Managing Agent has the necessary experience to assist and guide the Owners Corporation through its obligations and ensure compliance with the various State and Federal Legislation, as well as local council regulations.  Our philosophy is to take on as much of the day to day management from the owners as is appropriate so they can focus on their business.

Duties that a Strata Managing Agent will carry out include: maintaining common property, arranging building insurances, raising levies and managing the strata roll, managing by-law breaches and assisting in dispute resolution & debt recovery.

How much does a Strata Managing Agent cost?

When it comes to Strata Managers, it is very much a case of “you get what you pay for”.

Many Managing Agents act as little more than a keeper of the books and records, leaving the organisation of repairs and maintenance to the Owners Corporation. Waratah Strata Management prefers to take a proactive approach, regularly visiting complexes, dealing with potential maintenance issues or risks as or before they arise and generally adding value to your investment. In this way, Waratah Strata Management is an active asset manager of your property.

The standard management fee is agreed upon by the Owners Corporation and the Strata Managing Agent. Typically, this figure is based on the number of lots within a Strata Plan.  The value a proactive and effective strata managing agent, such as Waratah Strata, brings to a complex usually more than offsets the fee.

What are the roles and responsibility of the Strata Managing Agent?

The Strata Managing Agent acting on behalf of the Owners Corporation must:

  1. Look after common property, do all repairs, manage the finances of the strata scheme and administer the by-laws;
  2. Levy owners in the Strata Scheme to raise enough funds to carry out its duties;
  3. Record all details of notices;
  4. Keep minutes of its meetings, including details of motions passed;
  5. Keep copies of all received and sent correspondence;
  6. Keep proxies given to the Owners Corporation;
  7. Keep accounting records and financial statements;
  8. Prepare and keep the strata roll;
  9. Insure the building under a damage policy with an approved insurer;
  10. Insure against damage to property, death or injury for which the Owners Corporation could become responsible have workers compensation insurance where it is required under The Workers Compensation Act 1987;
  11. Insure against any damage that it may become liable for when a person does voluntary work for the Owners Corporation in the building or on common property;
  12. Ensures taxation obligations are met.

On a day to day basis a Strata Managing Agent may receive phone calls from owners or tenants reporting problems within the complex or the unit they occupy. This could be as simple as a minor roof leak, or could extend to flooding of the common property.  The Strata Managing Agent manages the repairs and where required, lodges insurance claims to recover the cost of the repair.

In addition, Waratah Strata will assist solicitors with the information they require to transfer ownership of lots – provision of s184 Certificates (formerly "s109 Certificates").

A Waratah Strata managing agent will visit each complex under its management on a regular basis to ensure all general maintenance items (such as landscaping, cleaning etc.) are kept to a high standard, and assesses for any defect items or repair items which may require attention.