Get a quote
Skip to Main Content
Flex Insurance
Manage my policy Get a quote
StrataTech login
15 Sep 2021

The benefits of using a strata manager

Managing a strata property can be difficult, time-consuming and complex with many legislated requirements to deal with.

Many strata owners and committees are often very busy and don’t have the time or expertise required to manage their strata properties effectively.

This is where a strata manager can help. Strata managers are specially trained professionals who deal with the management and needs of strata properties. A strata manager is engaged by the committee on behalf of the strata owners* to manage the day to day running of the property and ensuring it is fulfilling all its legislated obligations.

The roles of a strata manager

Strata managers carry out duties such as the ones listed below. These take a particular skill-set. Strata managers are experts who have a deep understanding of strata and state legislation. The strata management agreement lists the activities they perform on behalf of the strata owners and it may include one or more of the following:

  • Manage the building and common areas as directed by the strata owners in accordance with state legislation. This includes ongoing repairs and maintenance of the property.
  • Organising the annual general meeting (AGM), including sending out the agenda and taking and distributing the minutes of the meeting.
  • Keeping a record of all assets to ensure they are managed and maintained. This includes items found on common property such as fire safety equipment, security systems, garbage bins and lights.
  • Manage the financial and risk management aspects of the scheme such as:
  • Levies - sending notices, banking funds and following up those who are behind in their payments.
  • Risk management, in the form of organising insurance and ensuring all statutory compliance is met (such as organising an occupational health and safety report).
  • Manage the financial accounts such as the capital works and administrative funds, budgets and financial statements.
  • Pay invoices for suppliers such as gardeners, electricians, plumbers and utilities.
  • Maintain an up-to-date record of lot owners and their details.
  • Dispute resolution when issues arise between lot owners or neighbors and councils.

Assistance with insurance

A strata manger can also assist with the necessary insurance for a strata property:

  • As an enhanced service offering many strata managers choose to become Authorised Representatives (AR) of an insurer, underwriting agency (like Flex Insurance) or broker. As an AR, strata managers are then able to assist the strata owners arranging their strata insurances and provide general advice which is an important benefit.
  • On behalf of the strata owners, a strata manager can coordinate the insurance for the property through their relationship with a broker, who assists with risk management and places the necessary insurance.

Strata managers are there to relieve owners of the multifaceted management required to smoothly run a strata property. Strata managers can give owners peace of mind and make living in an apartment or owning an investment strata property that much easier.

*Please note: We have used the generic term of ‘strata owners’ as the name of a strata entity varies across Australia – it refers to an owners corporation, body corporate, strata company or community association.

CHUiSAVER Underwriting Agency Pty Ltd (ABN 85 613 645 239, AFSL 491113) trading as Flex Insurance acts under a binding authority as agent of the insurer: QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545).

Terms, conditions, limits and exclusions apply to the products referred to above. Any advice on this website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. Before making a decision to acquire any product(s) or to continue to hold any product we recommend that you consider whether it is appropriate for your circumstances and read the relevant Product Disclosure Statement (‘PDS’), Financial Services Guide (‘FSG’), and the Target Market Determination (‘TMD’) which can be viewed on this website or obtained by contacting Flex Insurance directly.

Flex Insurance is a wholly owned subsidiary of CHU Underwriting Agencies Pty Ltd (ABN 18 001 580 070, AFS Licence No: 243261) (CHU). CHU is a wholly owned subsidiary of Steadfast Group Ltd (ABN 98 073 659 677) (‘SGL’). SGL may receive a professional services fee (PSF) from insurers, premium funders and underwriting agencies such as Flex Insurance and CHU (Partner) for access to regulatory and compliance support; marketing and communications; data insights; and access to technology platforms. The PSF is an agreed amount between SGL and the relevant Partner, usually annually. The PSF is not determined by the volume of the business that the Steadfast Network brokers place, nor is the amount of the PSF known to the Steadfast Network Brokers, so it is not able to influence recommendations to their clients. Flex Insurance may have access to shared services from SGL, including: compliance tools; procedures; manuals and training; legal; HR banking; and group purchasing arrangements. These services are funded by SGL, subsidised by SGL or SGL receives a fee for them. SGL’s FSG is available at www.steadfast.com.au or on request by telephoning SGL’s Company Secretary on +61 2 9495 6500.

Copyright © 2024 CHUiSAVER Underwriting Agencies Pty Ltd