Here are 5 benefits of having a Strata Management company on board:

1. Ensure a smooth running of the Strata

Having a Strata Manager allows for all aspects of the strata to be taken care of fully and diligently as this is what they are employed to do – rather than solely relying on volunteers to assist in running a strata, who may not always have enough time to dedicate.  Having a strata management company on board, such as PLUM, will save both time and money – owing to the advice, experience and knowledge we as property professionals have.  At PLUM, all of our Strata Managers are fully qualified Property Specialists and provide a high level of service.

 

2. Support for the Strata’s Executive Committee

All owners on an Executive Committee are volunteers who have many other time commitments.  Therefore, more often than not, they are too busy to appropriately deal with the intricate details of running a strata.  Having a Strata Manager relieves pressure on the Executive Committee as the Strata Manager can do all of the background work, investigations, obtaining quotes etc. and once information is place can return to the Executive Committee with findings and advice – at this stage, the Executive Committee can step in to make critical decisions.  We at PLUM can provided references from Executive Committees of stratas demonstrating the value of employing us.

 

3. Accurate and up-to-date financial information

At PLUM, we work with an independent company of qualified accountants, White Cloud.  Together, we ensure that all strata accounts are correct and up-to-date – this is very important as Executive Committees need to make financial decisions on a regular basis and it is vital that they have the correct information to support any decisions they need to make – i.e. if work is required, they need to know whether the strata can afford the spend at that time and whether the spend has been budgeted for.  This point really is key to the successful running of a strata.

 

4. Communicating with ease

There are usually many different owner opinions and personality types to contend with, which can make it difficult to come to a unified decision and this can cause delays to any repairs or projects.  Not everyone will always agree nor have the same view and it can sometimes create a conflict between neighbors.  At PLUM we have found keeping owners regularly informed and resolving any concerns raised by owners in a timely manner keeps the peace.  Having a third party such as PLUM deal with difficult conversations and communications also assists with keeping a harmonious community environment.

 

5. Ensures safety aspects are taken care of

It is important that due care and attention to all safety aspects at a strata are considered and regularly monitored.  Having a Strata Manager allows for the necessary procedures to be followed to prevent avoidable harm to its residents.  At PLUM, during our regular weekly inspections, we make note of any potential hazards and rectify them immediately.

 

If you are a self-managed strata and would like PLUM to provide you with a proposal, please contact us at info@plum.ky or alternatively call us on 925-8897.