Strata is a form of property ownership and caters for the subdivision of buildings to ensure higher density and better efficiency in land utilisation. Sabah and Sarawak are both practising their very own unique regime in this subject matter.
Managing your strata property is just as important as purchasing it in the first place. Successful strata plans have a track record of skilled management. However, many owners are unaware of their strata scheme's management responsibilities.
While there are parallels in the roles of strata management, property management, and building management, it is important to understand the function of a strata manager in maintaining your property, reacting to crises, and what they are not allowed to do by law.
What is strata management?
Strata management is in charge of the day-to-day operations of the strata scheme, including the building complex and common amenities. The meticulous construction of a management unit by the owners' company is required for the scheme's success. Home owners may appoint a strata manager to collaborate with the executive committee and the corporation to regulate, manage, maintain, and administer the estate in order to offer a congenial strata living environment.
What are the duties and responsibilities of strata management?
Strata managers put systems and structures in place to back up their industry experience for the smooth running of strata. Their responsibilities need to be clearly outlined to the owners to avoid confusion, shifting blame or disputes.
The market value of your property is impacted by how well it is managed. Knowing your rights and obligations as well as the entire functioning of strata management will keep the management body on its toes.