Leading strata management group Strata Choice has been appointed to manage more than 600 apartments in and around Sydney. The appointments include Anadara and Alexander (pictured) at Barangaroo, Bay Pavilions at Lane Cove, and Pacific Bondi Beach.
“Every day an average of five new strata schemes are registered in this State alone, so our industry has a vital role to play in the way future generations live,” said Daniel Linders, Group Managing Director of Strata Choice.
“Around 2,700,000 people live in a strata scheme in NSW, and by 2030 those living in strata will outnumber those who don’t.”
Mr Linders said a strata manager's role was to help people live in harmony.
“With people living closer together there is bound to be some issues. You have people from different cultures, backgrounds and beliefs being forced to interact and compromise for the collective good of all. Normally their worlds don’t collide, but when you are a member of an Owners Corporation it is a melting pot of opinions and personalities,” said Mr Linders, whose mother founded the forerunner business to Strata Choice in 198
“A professionally managed strata building contributes greatly towards a harmonious community and maintaining the asset value of the property.
“Many strata developments are worth hundreds of millions of dollars, and it’s our job to ensure everything operates efficiently and looks its best at all times. If the building isn't properly managed its value can quickly fall,” Mr Linders said.
Strata Choice has a system that ensures accurate levies for individual apartments, which it offers as a free service to developers and project marketers. It involves taking each cost component to the marketplace and obtaining binding quotes (based on the completion date of the project) from reputable suppliers for services such as insurance, gardening, cleaning, heating/ventilation/air-conditioning, hydraulics maintenance and lift maintenance. It then calculates the total budget to cover administrative costs and sinking fund requirements for the overall development, and allocates an accurate levy to each individual apartment.
“The accuracy of the levies provide certainty for prospective purchasers,” Strata Choice New Development specialist, Jason Howitt, said.
“We are also mindful of protecting the reputation of the developer so there is no guesswork or fudging of figures.
“Most developers use us on a repeat basis so much of our new work comes from referrals, which has enabled our growth to continue.”
Developers in NSW are relying on companies such as Strata Choice to guide them through the new strata laws, which are expected to pass into legislation in November.
“We have held several training sessions already for developers and project marketers to alert them to what their new responsibilities will be,” said Holly Westcott, the joint head of Strata Choice’s New Developments Division. “The new laws place a far greater onus on accuracy and accountability, and ultimately they will benefit reputable developers and strata buyers.”
Under the new legislation a developer must provide an initial maintenance manual to the Owners Corporation at the first AGM which sets out the obligations and costs associated to the common property.