How to choose a strata management company

How to choose a strata management company

Need to choose a new strata manager? Here’s what you need to know to choose the right company for the job.

Choosing a strata manager for your building can often be a difficult task. Not only do you want to find a strata management firm that can promptly and effectively deal with any issues that may arise, but you also want their services to be as affordable as possible.

To help you choose the right strata management company, we’ve put together a handy guide. Whether you’re searching for a manager for a new building or your current strata manager’s contract is up for renewal, keep our tips in mind to help you make the right choice.

What does a good strata manager do?

A strata manager has a very important role to play in providing safe and successful strata living for all residents. A strata manager is employed by the owners’ corporation of an apartment block and acts on the corporation’s behalf.

Many people don’t realise that there are many legal requirements that need to be met when managing a strata apartment block. A good strata management company will ensure that the owners’ corporation has the proper insurance policies in place, hire cleaners and gardeners to ensure the property is properly maintained and ensure that common areas such as pools and gyms are also maintained to a sufficient standard.

Strata managers can also be called upon to act as mediators in disputes between apartment owners, ensuring that mutually agreeable solutions to any potential issues can be reached.

Factors to consider when choosing a strata management company

Make sure to keep the following factors in mind when comparing strata management companies and what they can offer:

  • Price. Like many other things in life, with strata managers you generally get what you pay for. If a strata management firm charges a fee that sounds too good to be true, it probably is. At the same time, you should make sure that you’re only paying for services that you actually need and none that you don’t. However, while price is undoubtedly an important factor, it certainly shouldn’t be the only issue you consider when choosing a strata manager.
  • How your money will be spent. Next, consider the company’s approach to financial reporting. How often will you receive updates on the management of the property, and in how much detail will the company explain where the owners’ corporation’s money is being spent?
  • Location. It’s important to choose a strata management company based in the same area as the building. Choosing such a company will have many benefits. Not only will local companies have an in-depth understanding of the unique risks facing owners’ corporations in your area, but they will also have important contacts with local cleaners and tradespeople who can maintain your building. And if any problems arise that require urgent attention, a locally based strata manager will be able to attend to them much more quickly than a manager based on the other side of the city.
  • Recommendations. A recommendation from someone you trust is often a whole lot more valuable than the slickest of marketing presentations prepared by a strata management company. Chat to friends and family members who sit on other owners’ corporations and see whether they can recommend any particular companies.
  • Your expectations. It’s important to consider exactly what you want your strata management company to do. As well as insurance obligations and maintenance tasks, are there any other specific duties that need to be attended to? Make sure that any strata manager you consider is aware of your expectations and has the capabilities to meet them.
  • References. Similar to recommendations above, the quality of a strata manager’s references can tell you a whole lot about the standard of service they offer. Ask anyone you are considering to provide references from other schemes they manage, and contact those references for more detailed information.
  • Qualifications and experience. Does the strata manager have the necessary professional qualifications? Are they a member of industry associations and do they have professional indemnity insurance cover? You should also consider the experience a strata manager has, whether they manage any other buildings similar to yours and whether they can demonstrate suitable knowledge of any relevant legislation.
  • Communication. Last but not least, don’t forget about the importance of communication. You want a strata manager who keeps you in the loop at all times and who can communicate promptly and clearly at all times, so make sure these are qualities you look for when choosing a company.

Finding the right strata management company

If you’re hunting for the right strata management company to look after your building, the best thing to do is compare the services offered by a number of strata management companies. Gather proposals from respected strata managers that are based close to your building. Compare their experience, qualifications, management services, communication skills and price to determine which company has all the features you’re looking for.

Check out investment loans from across the market

Rates last updated August 16th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.89%
4.24%
$0
$0 p.a.
80%
Sharp interest only package rate
Fix your rate and minimise repayments for 2 years with this interest-only investor mortgage.
3.99%
3.99%
$0
$0 p.a.
80%
Special discounted interest rate
Get a discounted, low-fee investor loan from a convenient online lender. 20% deposit required.
3.98%
3.98%
$0
$0 p.a.
70%
Requires a 30% deposit
Investors can get a 100% offset account and a low rate if they have a big deposit. 100% online application process.
3.91%
3.92%
$0
$0 p.a.
80%
Add an offset account for $10 a month
Investors can go from application to approval in as little as 20 minutes with this innovative online lender.
3.97%
3.99%
$0
$0 p.a.
80%
Competitive investment package loan
Package your owner occupied loan with investment loan and receive a discounted investment rate. 100% offset account included.
4.09%
4.87%
$0
$395 p.a.
90%
10% deposit option available
Buy your investment property and set your repayments for the first year. Available in QLD, NSW and ACT only.
3.99%
5.17%
$600
$0 p.a.
90%
Available with a 10% deposit
Competitive rates for fixed for 3 years with redraw facility.
3.93%
3.94%
$0
$0 p.a.
80%
Competitive investor rate with plenty of features
This investment loan keeps fees low, has a sharp interest rate and comes with a 100% offset account.
3.99%
4.14%
$0
$0 p.a.
70%
Competitive investor mortgage for borrowers with a 30% deposit.
4.29%
4.31%
$0
$0 p.a.
80%
Flexible, low fee mortgage
Investors will pay no application or ongoing fees for this interest-only loan.
4.08%
4.09%
$0
$0 p.a.
90%
Low-fee investor mortgage with a partial offset account. 10% deposit option available.
4.18%
4.18%
$0
$0 p.a.
80%
Competitive investment mortgage
Investors get a 100% offset account and pay no application or ongoing fees on this loan from an innovative online lender.
3.99%
3.99%
$0
$0 p.a.
70%
Save on fees with this investor mortgage
Investors with a 30% deposit can get this low rate loan to fund their property portfolio.
4.29%
4.31%
$0
$0 p.a.
80%
Simple, flexible investment product
A simple, variable rate investor loan from an online lender that keeps fees to a minimum.
3.99%
4.62%
$395
$0 p.a.
80%
Flexible fixed investment loan
Investors can enjoy flexible repayments and an easy application process with this pioneering online lender.
4.24%
4.68%
$0
$0 p.a.
90%
Investor loan with a small deposit option
Fix your investment repayments for 1 year. You can get this loan with a 10% deposit. Available in QLD, NSW and ACT only.
4.13%
4.14%
$0
$0 p.a.
90%
Available with a 10% deposit
Access a fee-free offset account and a special interest rate for investors.
4.14%
3.96%
$0
$0 p.a.
80%
Low fee investor mortgage
Investors can go from application to full approval in as little as 20 minutes with this innovative online lender.
4.18%
4.19%
$0
$0 p.a.
80%
Line of credit for investors
Investors can easily access their equity using BPAY, a debit Master Card or cheque book with this interest-only line of credit.
4.31%
3.95%
$0
$0 p.a.
80%
Rapid online application process
A variable interest-only loan for investors. Fast application, low fees, optional offset account. 100% online lender.
4.14%
4.17%
$0
$0 p.a.
80%
Competitive rate for investors
Investors can enjoy flexible repayment options and pay no application or ongoing fees.
3.94%
3.92%
$0
$0 p.a.
80%
Add an offset account for $10 a month
Lock in your interest rate for 2 years and enjoy flexibility, an optional offset account and a fast online application process.
4.29%
4.27%
$0
$198 p.a.
70%
Lock in your investment rate for 3 years
Fund your property portfolio with this fixed rate mortgage which includes a 100% offset account. 30% deposit required.
3.84%
3.91%
$0
$0 p.a.
80%
Flexible low fee mortgage
Enjoy a fast application process and flexible repayment options with this fixed rate mortgage for investing.

Compare up to 4 providers

Aussie Home Loans Logo

Enter your details below to receive an obligation-free quote from an Aussie home loans expert today

finder.com.au respects your privacy

Applications are subject to approval. Conditions, fees and charges apply. Please note that you need to be an Australian citizen or permanent resident to apply.

Credit services for Aussie Select, Aussie IQ and Aussie Optimizer products are provided by AHL Investments Pty Ltd ACN 105 265 861 Australian Credit Licence 246786 ("Aussie"), and its appointed credit representatives. Credit for Aussie Select products is provided by Residential Mortgage Group Pty Ltd ACN 152 378 133 Australian Credit Licence 414133 (“RMG”). RMG is a wholly-owned subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian Credit Licence 234945. Credit for Aussie Optimizer products is provided by Perpetual Limited ABN 86 000 431 827 (Lender). Credit for Aussie IQ is provided by Macquarie Bank Limited ABN 46 008 583 542 AFSL and Australian Credit Licence 237502. Home loans issued by the Lender are serviced by Macquarie Securitisation Limited ABN 16 003 297 336, Australian Credit Licence 237863 (MSL).

Aussie is a trade mark of AHL Investments Pty Ltd. Aussie is a subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. ©2018 AHL Investments Pty Ltd ABN 27 105 265 861 Australian Credit Licence 246786.

By submitting this form, you agree to the finder.com.au privacy policy and the Aussie privacy policy.

Aussie Home Loans is both a lender and a mortgage broker, and offers a range of services.

  • FREE Suburb and Property Report with every appointment.
  • Access 3,000+ loans from over 20 lenders.
  • Get expert help with your loan application, including paperwork and eligibility.
  • Over 1000 brokers who are able to help you in your local area.

Aussie Home Loans Lender Logos

The Adviser’s number 1 placed mortgage broker 5 years running (2013-2017)

Image: Shutterstock
Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.
Ask a question
Go to site