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Differences between strata and property management
If you live in or own an apartment or complex, you've likely run into scenarios with leaking pipes or concerns with communal areas within the property. Who deals with a broken step in a shared area, or who takes care of a broken door or lock or leaking pipe? Depending on the location and nature of the maintenance query, different parties will need to take action respectively. Knowing the bounds of your proprietary authority is essential. This is for a less confusing exchange between you, your tenants and all other property groups involved. The main parties normally concerned with general maintenance matters are the property and strata managers. Keep reading below to learn more about the differences in these roles.
Strata management overview
A strata manager is a company that manages an apartment block or commercial building on behalf of all the individual owners in that block. They work in the owners’ collective interest and manage everything from legal compliance to building maintenance and financial administration. Strata managers oversee the day-to-day management of the complex. Strata managers are mainly responsible for administration, finance and community.
Property management overview
A property manager is commonly thought of as the owner of the unit/building. In some cases, this is true. But property managers specifically are hired to help market the unit, residential or commercial space. They oversee the upkeep and maintenance of a single property lot. They are the middleman between the landlord and the tenant. And they are responsible for finding a suitable tenant, collecting the rent and for arranging maintenance on the inside of the apartment.
