Strata, Building or Property Manager?

What is the difference between building, strata & property managers?

There are a number of different service providers who may be involved in the management of your strata community property, and while they all have similar titles (confusing much?) they do have very different roles and responsibilities. Here’s an overview:

Strata Manager:

A strata managers role can be broken up into four major components:

1. Administrative
2. Financial
3. Compliance
4. Service/communication

The complexity of each aspect of strata management will differ community to community, as the needs of each group of owners is different. We’ve completed a comprehensive comparison of strata manager services you can access here.

Important notes:

1. Strata Managers are Licensed under the Office of Fair Trading and as such, must hold qualifications and undertake mandatory continued professional development.
2. Strata Managers must hold Professional Indemnity Insurance.
3. A strata agency must have a Licensee-in-Charge who is responsible for supervision of all employees within the company.
4. Strata Manager who are members of SCA (NSW) are also part of a Professional Standards Scheme, and therefore undertake even further obligations for professional development.
   
   

Building Manager:

Building managers have a more ‘hands on’ role to that of the strata manager, and for at least part of the contracted hours, will be onsite.

The building manager should be the first point of contact for owners and residents in relation to repairs and maintenance for the common property. They will also work closely with the strata committee in proactively obtaining quotations for major works.

A building manager should supervise contractors when onsite, ensuring they are completing work to a high standard and as agreed. They will manage security systems, access devices and emergencies.

Important notes:

1. Building managers DO NOT require any qualifications and are not registered or licensed.
2. A building manager does not need to have PI insurance.
3. Building managers must be appointed a general meeting and by way of a contract.
   
   

Property Manager:

A property manager is responsible for managing individual rental properties on behalf of property owners. They act as an intermediary between the property owner (landlord) and the tenant.

Important notes: Property managers are engaged by the property owner direct and have no relationship with the OC.

Task breakdown table