The rise of strata living in Sydney has been fueled by urbanization and the need to create new, cost-effective housing. Strata title has altered the property market. Instead of single/family homes, we have an increasing number of strata title properties. A million more Sydneysiders now share a strata scheme with their neighbors. That also means plenty of us have to share the responsibility of running our apartment and townhouse buildings.
A well-run building doesn't simply happen on its own. As lot owners, we contribute to the building's costs and avoid any problems if we look after our own lots. However, from the day we move in, someone has to manage the shared facilities. Someone has to resolve the inevitable disputes that happen. In other words, every building needs effective strata management, committees, and active strata committee members.
What is Strata Management?
If you live in Sydney's high-rise city apartments and townhouses, then strata management will be a crucial part of your real estate experience.
Strata management is the name given to the collective administration of strata schemes. Strata schemes are legal entities run for shared living properties. They are led by one strata manager and or an agency, but are part of a strata committee. Strata title is a form of property ownership that means you can exclusively own part of a property whilst co-owning other parts, like halls, gardens, roofs and other common areas, with the community who shares your property units.
Most buildings have what's called a strata plan. This strata plan shows a layout of the property and what everyone owns. After a strata plan is created, you can register it with your local government, and you will have your strata building.
The Role of Strata Councils
Strata councils have an important job managing properties. This is particularly true in complexes with many units such as condos and townhouses. Strata councils are made up of elected owners who make decisions that will affect their community. They keep the property pristine and its residents happy. Furthermore, they handle many owner inquires, which in certain buildings may be beyond the scope of the property management team.
A strata council’s day-to-day includes all sorts of normal oversight for maintenance and repairs. This is everything from inspecting common property and meeting with contractors who will perform work to passing and maintaining operating budgets. Strata council's also enforce bylaws including those regarding move in/out and parking infractions. What they do best is make good decisions that will keep a happy, harmonious community.
The Future of Strata Management in Sydney
Emerging trends for how we manage strata are veering towards sustainability and building a community. Property owners are going green with energy-efficient systems and waste reduction to keep strata living attractive to residents who want to help, not harm, Mother Earth. Plus, these changes also make the building a nicer place to live and increase property values – it’s a win-win.
Everyday processes are moving to the digital space, where strata managers can assign tasks to members of their team, and users can write messages to property managers. There’s a note trail that follows problems, so property managers know for certain that their staff are taking steps towards completing tasks.
So, some of the points of best practice for strata operation, are in some ways, standard for any new role and community that is formed. Here are an overview and some observations:
- There has to be a “governing” body (the Committee) that will “run the scheme”.
- Prescribed meetings that have a set form in law. Owners may only speak if asked and must withdraw from the meeting if requested. They may only ask questions if permitted by the chair of the meeting.
- The Body Corporate may delegate its powers and authority.
- The Committee may exercise the powers and authorities, for the administration of the common policy.