Strata management: Difference between revisions
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Strata management is a specialist area of property management involving the day-to-day operation and management of a property that is jointly owned and comprises units, common areas and common facilities. With the introduction of freehold property ownership and large mixed-use projects such, it is necessary to consider the need for effective operation and management of these projects. |
Strata management is a specialist area of property management involving the day-to-day operation and management of a property that is jointly owned and comprises units, common areas and common facilities. With the introduction of freehold property ownership and large mixed-use projects such, it is necessary to consider the need for effective operation and management of these projects. |
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Revision as of 08:50, 20 July 2009
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Strata management is a specialist area of property management involving the day-to-day operation and management of a property that is jointly owned and comprises units, common areas and common facilities. With the introduction of freehold property ownership and large mixed-use projects such, it is necessary to consider the need for effective operation and management of these projects.
A balanced and strategic approach to management and operation is vital to ensure harmony and a sense of community for owners, residents, commercial operators, the greater community and visitors alike.
The successful management of such developments will require the establishment of a strata title system to provide a framework for ownership, and guidelines to manage developments with multiple users and owners.
Throughout the world there are many jurisdictions in which the concept of jointly-owned property is adopted; owners of property in these types of schemes automatically become members of an Owners’ or Community Association. These associations ultimately bear a shared responsibility for the maintenance and management of common areas such as lobbies and corridors, and shared leisure facilities such as swimming pools and gyms. They are also responsible for running the administrative and financial aspects of the property.
It is the role of the appointed Strata Manager to work with the Owners’ Association and any elected Management Board to successfully control, manage, maintain and administer the property and to create a harmonious and enjoyable community environment.