Often, people use Strata Manager, Owner’s Corporation, and Body Corporate terms interchangeably. There are building owners who think that these terms are opposed to one another. The real problem is that very few professionals would explain the thin line between them. So if you are wondering whether hiring managers for strata companies in Sydney would work for you, it might be the time to check the differences.
Strata Management in Sydney
To begin with, the term that professionals use would depend on the state where you live. So in Australia, Strata Management Companies in Sydney makes up its legal entity. This body owns the properties, which are common to any building. Hiring a strata manager is helpful for:
- Ensuring that the building gets a well-structured plan. It allows for good maintenance, as well as leaves scope for further improvement.
- Keeping the insurance and other important documents handy and well placed within the buildings.
- Collecting taxes and other important levies from the owners for the maintenance of the properties.
- Arranging the general meetings, as well as structuring a harmonious environment of living for one and all.
About Owners’ Corporation in Sydney
A strata management in Sydney supports owners’ corporations. In many places, they are known as Body Corporate. It is a group that represents all the owners of the building. So anyone purchasing a property, or a building, that a strata title covers would automatically become a part of the owner’s corporation. Legally, this entity is responsible for executing various tasks, including:
- Looking after the shared amenities.
- Checking the overall maintenance.
- Keeping an eye on the common areas of the building.
Strata Committee in Sydney
As a part of the Sydney strata, executive committees, or strata committees, would include a group of individuals. This group gets elected on an annual basis through Annual General Meetings. The elected group acts as the voice of a commonly shared building. The activities of the building would include:
- Have a 24/7 hotline number for maintenance.
- Organising the contractors for any emergency service.
- Overseeing the financial aspects.
Thus, different strata bodies function differently.