Specialised Strata Management Service NSW

by

Chris Whelan

Strata management is an expert way in which a property or a compound can be jointly owned by a number of people together. The people sharing the property or compound become members of that property. They not only share benefits arising out of that property but also share responsibilities of that property. NSW Strata law aims to pool resources of various individuals to keep that body corporate in healthy and fit position.

This is governed under the act which was passed in the year 1996. This act defines the powers and rules of the NSW strata law. This includes appointment of the executive committee, chairman or manager of strata or caretaker. It defines area where this act is applicable and the terms to maintain strata management. It also tells how to terminate the contract of strata management.

The act also tells consequences of not appointing the executive committee, caretaker and manager. It entails the general rules and guidelines of forming the strata. The strata management is a unique way of promoting peace and harmony and encourages co-existing of human beings. The people help each other and not only concentrate on their own welfare but welfare of the strata as a whole. The community aim to please wishes of each other and only his own.

The members of strata manage day to day activities of that body corporate. This includes financial aspect as well as administrative management of that body. They can be asked to pay a certain sum of money to enjoy benefits of owning of the property. Suppose a person is living in a strata setting then while performing his daily actions he should take into account not only his own point of view but also the impact of his actions on others, example like parking your car at the parking you should not park it at other s place of parking.

In NSW strata law, people select a representative from among themselves who manages the accounts of the corporate, preparing budgets of corporate, maintaining assets of the corporate body, signing contracts on behalf of property, forming rules and regulation of the body, collection of dues from outsiders and forming a middleman between body of corporate and members. The main responsibility of manager of strata management is to look after the property that is jointly owned by the members.

The members own their private property but also share responsibility of common property. They contribute to maintain their own property like their own apartment, building etc as well as common property like parking lot, garden or streets. This includes maintenance cost such electricity, water supply bills, lift management charges etc. They also include repair costs. These are contributed by the strata members.

A number of examples are available worldwide where a number of bodies are being managed by strata management. This is a friendly way and economic way of maintaining the property. The harvests or the profit arising out of the property is shared by all the members equally or as per agreement signed by the members.

Christopher Whelan is a Licensed Strata manager at Whelan Property Group Pvt. Ltd. He has shown great innovation and believes Whelan Property Group is at the forefront of technology use in

Strata management

followed by

NSW strata law

and schemes.

Article Source:

ArticleRich.com