If you own or rent an apartment, or are looking to doing so, it is important to understand the difference between a strata manager and a property manager. Here is a quick guide to help you identify the roles of both parties:
Property managers typically work in real estate, and become the bridge between landlords and likely renters and, likewise, between landlord and the owners corproation. They look after individually owned residences within strata properties, and are responsible in arranging maintenance for the inside of apartments, collecting rent, and organising leases and tenants.
Appointed by the owners corporation, strata managers assist in managing the strata scheme’s finance, administration, providing advice and guidance on legal requirements, solving disputes that may arise, as well as ensuring that there is transparency and ease of communication between owners. Strata managers are also responsible in attending and preparing regular meetings for both the owners strata committee and general meetings.