Author: Rachael Kwawegen

The Strata Act is applicable to the real estate sector. It is a law that recognizes the responsibility of owners and occupants of strata properties. Properties that can be segmented or identified in strata or levels or slabs qualify for the application of the Strata law. The Strata Act helps owners of such properties to identify lot and common areas. The lots are the private premises paid for, while the common areas are areas for common access, like the stair cases, corridors, car park or garden. Strata scheme involves the participation of all the co residents for the maintenance and contributions towards the upgradation of the premises. Strata Management is the combination of various steps to ensure that the strata scheme is successfully implemented.

There are dedicated companies that take care of Strata Management. They offer clients the expertise of real estate personnel who are not only licensed, but also very experienced in the Property Sector. The Strata Management companies address the strata needs for small and large, prestigious real estate developments. The companies are designed to provide administrative services that look into all the documentation and special requirements for the strata law to be applicable to a property. The companies also offer secretarial help like book keeping and maintaining the minutes of meetings and other records for future reference. The Strata Management companies ensure the timely maintenance of the title properties and ensure that the co owners of the property are able to live peacefully with one another.

The owners and occupants residing on a property benefit manifold with the implementation of the strata management scheme. These special companies ensure that Owners Corporations or body corporate formed adheres to the regulations set by the paradigms of the law. The Strata Management companies help the owners to understand the by-laws of the Strata Act and even offer the services of auditors. The strata manager appointed by the Strata Management company takes charge of making available at all times the plans, specifications, certificates, diagrams, insurance and other documents relating to the strata identified building. The company maintains the records like the certificate of title for the common property, the strata roll, accounting records and records relating to the applied strata scheme.

The company is expected to produce, on demand, the preceding financial statements and balance sheets. The ongoing management adheres to the requirements of the Strata Schemes Management Act. The Strata Agencies around the world offer co owners the services of real estate experts, who make each and every lot owner aware of his or her responsibility towards the common and privately owned areas. The licensed real estate managers and strata managers are proficient in their respective spheres of influence and bear joint responsibility to see that the Act is implemented in essence to every property entrusted to their care. They have years of experience in the Property Sector. The Strata Management Company strictly adheres to the regulations of the Strata Schemes and Management Act. These companies are designed to promote a feeling of mutual trust and harmony among the co owners of a property.

Rachael Kwawegen is a Licensed Real Estate and Strata Managing Agent with 15 years experience in the Property Sector. For more information on Strata Management, you can visit her website at
www.thestrataagency.com.au

Article Source: ArticlesBase.com - Strata Management