What is a Strata Management Company?

A strata management company in Adelaide is a professional organization that provides various services to owners of properties in a strata scheme. These services can include maintenance and repairs, accounting and financial reporting, insurance, and legal advice.

What is a Strata Scheme?

A strata title scheme in Adelaide is a system of ownership and control that applies to certain types of property, typically large developments. The key features of a strata title scheme are that it:

  • Creates a legal entity, known as the owners corporation, which represents all the owners in the development
  • Gives each owner an undivided share in the common property
  • Sets out rules for the use and management of the common property

The advantages of owning property under a strata title scheme include:

  • Greater certainty about what you can do with your property, as the rules are set out in detail in the scheme documentation
  • More flexibility in how you use and modify your property, as owners can make changes subject to the approval of the owners corporation
  • A greater sense of community, as residents have a say in how the development is run and can socialise with their neighbours.

The main disadvantage of strata title schemes is that they can be complex, and owners may need to pay fees to the owners corporation for maintenance and repairs.

If you’re considering buying property under a strata title scheme, it’s important to understand how the scheme works and what your rights and responsibilities are. You should also get advice from a qualified legal or conveyancing professional.

Why Do You Need a Strata Management Company?

An Adelaide strata management company typically employs a team of qualified professionals, such as lawyers, accountants, and property managers, who are experienced in dealing with the complexities of strata schemes. This ensures that owners can receive the best possible advice and assistance with their property matters.

The benefits of using a strata management company in Adelaide include peace of mind for owners, as they can be confident that their property is being well-managed; cost savings, as the company can bulk-purchase goods and services at discounted rates; and convenience, as the company can handle all aspects of property management on behalf of owners.

If you are an owner in a strata scheme in Adelaide, it is important to choose a reputable and experienced strata management company to ensure that your property is properly cared for. Do some research to find a company that has a good track record and is able to provide the services you need. You can ask other owners in your strata scheme for recommendations or look for online reviews. Once you have selected a company, be sure to read the contract carefully before signing anything. This will help you understand your rights and obligations, as well as those of the strata management company.