Welcome to my blog. My name is Darren. I own several rental properties in Western Australia. Once I had made the purchases, I discovered that several of the properties needed extensive work before I could rent them to tenants, so I had to hire construction contractors, plumbers, electricians, waste disposal experts and roofing experts to make sure the homes were in top condition. Once I had repaired the buildings, I contacted a letting agent who put them on the market for me. I learnt a lot from working with some many different businesses so I decided to start this blog to share everything I know.
When more than one person owns a property, and especially if it's a rental property, they would do well to hire a strata manager to help with management responsibilities. A strata manager typically acts as something of a secretary and treasurer for the property and as a representative of the owners of the property. If you're thinking of hiring a strata manager for your property, note a few questions you might have about their responsibilities and their work, and then you can decide if this is the right choice and also know what's involved in using their services.
1. What are the limitations of a strata manager?
The responsibilities of a strata manager will be decided on by the property owners and are only limited by what responsibilities may be prohibited by law. As an example, a strata manager may not give legal advice, but they may research information about legal issues related to a building or may find an attorney that the owners might consult for certain issues. They also may not give financial advice or prepare tax returns for a property owner, but they may handle collections, bookkeeping, and other such basic paperwork, as is within their area of expertise. As long as their responsibilities do not require licensing that they don't hold, a strata manager can typically perform any function agreed upon between them and the property owners.
2. Can a strata manager handle tenant disputes?
A strata manager can actually make it easier to settle tenant disputes; he or she can act as a neutral party for disputes between tenants themselves, and they can also remind tenants of certain bylaws, lease restrictions and the like, especially when it comes to disputes they have with owners. However, as said above, a strata manager is not a lawyer; he or she may prepare warning paperwork when it comes to tenant concerns, but in many cases, an attorney may need to be called in to serve actual legal paperwork or begin any type of court proceedings against a tenant for non-payment and other such violations.
3. Can a strata manager handle the bank accounts for the property?
A strata manager, like an office manager, may be given authority to sign checks for certain vendors and recurring expenses, and they may prepare deposit slips for rent checks and the like. They may also handle certain basic bookkeeping functions, as mentioned. Their access to such accounts, limits as to checks they can sign, and other such details are determined by the property owners themselves.
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