Our insider tips on questions you should ask your future Strata Manager.
Good or bad, most people judge an entire strata agency on the working relationship they have with their strata manager.
We have prepared this short list of questions you should ask before making the decision to appoint a new Strata agent.
How many buildings does your proposed new Strata Manager already take care of
Your entire layering experience hinges on this simple question. Most agents manage large portfolios, to the point where they may spend most of their time putting out spot fires rather than giving you the proactive service you’re looking for.
What is included in the monthly management fee
Most agencies charge a monthly management fee that covers the agreed services. Work carried out outside the agreed services is invoiced in addition. You can negotiate with an agency to have fixed-price payouts to give you a clearer idea of how much your program will pay per year.
The strata manager who will manage your property should have at least a Certificate 4 in strata title management. Ideally, this would have been acquired through a Tafe course. It is possible to obtain a Certificate 4 in Strata Management by paying to take a 2-week course. It’s also a good idea to ask how long they’ve been with the agency.
When approaching a potential new agent, it’s fair to ask what is the experience of the strata manager who will actually be managing your building and, in case things go wrong, what is their experience attending mediation hearings and of the court.
How often are financial reports generated and are they given only to the treasurer to the entire committee? Ideally, this will be available on a monthly basis.
Service Level Agreements
Strata management is a customer service. Your new agent should be able to provide you with turnaround times for your inquiries, responses to emails, and returned phone calls.
Your money, your contribution
It’s your building and you don’t necessarily want the strata manager to do everything, so it’s important to clarify your contribution to approving creditor payments and the level of committee input when the officer prepares the proposed budget .
Terms of agreement
When appointing a new agent, most will try to lock you in for the maximum period of 3 years. If the services don’t meet your expectations, you’re locked in for the term of the agreement, unless your plan decides to pay for the remaining term of the agreement. It’s a better option to sign a one-year deal and see how things go.