Strata management is a niche subset of property management that originated in New South Wales, Australia, and has spread to many other countries. Strata management is also called body corporate management as it involves managing property that is subdivided into multiple units which are owned by separate individuals. As well as general management courses that are available in Canberra, people interested in strata management need to take specialist courses in property and body corporate management.
Strata management applies to office blocks, apartment buildings, shopping centres, townhouses and similar structures. It entails the care, management, finance and maintenance of the units themselves as well as communal areas and facilities such as passages, halls, swimming pools, gardens and parking lots.
Usually, the body corporate committee (which is made up of elected trustees) makes decisions regarding maintenance (painting the exterior walls; laying new lawn), regulations (no pets; all windows to have the same panes) and responsibilities (body corporate is responsible for communal doors; owners are responsible for private doors). The committee is headed by an elected chairperson, who is ably assisted by a property or real estate manager.
It’s not necessary for committee chairs to take basic strata or project management courses; unless they intend being very hands on their management approach. In which case, they should take strata or property management short courses which deal with the legal responsibilities and requirements of body corporate and strata managers in specific cities and states, such as Canberra, ACT.
Real estate and property managers often manage the more technical aspects of strata management on behalf of bodies corporate. For instance, they may work with the chairperson to determine a budget for a quarterly or annual period but would manage all the accounting responsibilities on their own. Strata managers are also be responsible for notifying tenants of arrears and go about collecting arrears. They manage all legal matters, including those taken by the body corporate and those taken against the body corporate. They are also responsible for ensuring that all tenants and owners receive important notices, such as minutes of meetings and notices regarding maintenance projects and upgrades.
On an even more technical level, strata managers have to know exactly how insurance works for strata titles. For example, how it applies to communal areas, the building as a whole and those who work in the building.
In addition to all the management, law and finance courses that strata managers need to complete they also need to have some conflict resolution or human resources qualifications as they will be called upon to settle disputes between strata title owners, the owners and the body corporate and the body corporate and the city of Canberra (when serious problems arise).
All in all, strata management is one of the more complex subsets of management. It’s no wonder that business schools compete to offer the best management courses in Canberra, not only to ensure that strata managers perform at their best but also to ensure that everyone from event to project managers are always in demand.