If you live in an apartment or shared living situation that involves other tenants, then you most likely have come across the term 'strata management'. This is a term for the company or person that oversees all of the common areas and services of your building. While you own (or lease the apartment from the owner) the unit you are in, you do not own the common areas. Technically, everyone in that area owns it together. Managing this as a group, however, is almost impossible, which is why most people turn to strata management. Here is how strata management can help you and your fellow tenants.
Quick Response To Utility Issues
Perhaps the number one issue that people seek out their strata manager for is when they have a faulty fuse or a leaky pipe. Depending on the size of your apartment block, you may even have a handyman on-site at all times, and they can usually be obtained through the strata management. However, it is important to note that strata management is only responsible for the upkeep of common areas, as you are the owner of your own unit. Nevertheless, they generally have all the best numbers of nearby plumbers and electricians to call, and if you are in a bind, they are the best number to call first to warn the other members of the building.
Increase The Value Of Everyone's Property
Having good strata management is not just good for yourself but also for everyone in the building because of how much better kept the corridors, living spaces, gyms, elevators, stairways and foyer are kept. While this is nice to live in, it is even better when you consider selling your property. Often, you can recoup all the yearly fees of strata management and then much more when you end up putting your unit on the market. An investment in strata management is, therefore, not just for yourself right now but for everyone moving forward too.
Dealing With Conflict
There is nothing more frustrating than trying to deal with a matter between two tenants if there is no mediator involved. Strata management has an interest in keeping the peace as much as possible, and often, they will come up with their own solution for your disputes. They also are experts in knowing the exact legal limits each tenant has and how that will relate to each other in arguments. This means they can provide a voice of reason and authority in what can otherwise be a chaotic argument fuelled by emotion rather than logic.