Strata Manager vs Property Manager: Understanding the Differences

When it comes to managing properties, the roles of a strata manager and a property manager are often misunderstood. Both roles are crucial in the real estate industry, but they have distinct responsibilities and focus areas. Let’s take a look at each role and when they may overlap.

Strata Manager

A Strata Manager, also known as an Owners Corporation Manager, is a company that manages the common property on behalf of all the owners within that building. They work in the owners’ collective interest and manage everything from legal compliance to building maintenance and financial administration.

Roles and Responsibilities of a Strata Manager

An Owners Corporation Managers’ responsibilities can be split into three main categories: administration, finance, and community.

Administration: This involves running meetings, managing correspondence between owners and taking care of legal compliance. Strata Managers also oversee the maintenance of all common areas and are the first point of call for emergency repairs.

Finance: Strata Managers facilitate payments to contractors, balance the books, and issue and collect levies. Levies are regular financial contributions made by lot owners that go towards the maintenance of the communal property.

Community: Strata Managers are responsible for addressing and resolving disputes, such as noise complaints, issues with parking, and a range of other daily duties.

Property Manager

A Property Manager works on behalf of one owner and focuses on issues pertaining to private property. They are responsible for managing individual properties, which includes finding tenants, collecting rent, and arranging repairs and maintenance.

Roles and Responsibilities of a Property Manager

Tenant Management: Property Managers are responsible for finding tenants, collecting rent, and arranging repairs and maintenance.

Legal Requirements: Property Managers must hold a Real Estate Agent License and be registered under a licensed real estate agency.

Accountability: They are accountable to the property owner, and their primary responsibility is to ensure that the property is tenanted and maintained.

Communication: Property Managers are required to communicate with the property owner, providing regular updates on the status of the property and any issues that arise.

While both strata managers and property managers oversee properties, they have distinct responsibilities and focus areas. The main difference between a strata manager and a property manager is that the strata manager works on behalf of all owners and focuses on issues regarding common property, while the property manager works on behalf of one owner and focuses on issues pertaining to private property.

If you have any questions about these different roles or need a quote for your Owners Corporation, reach out to Melbourne’s leading strata management company, Melcorp Strata today!

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