Thinking of Switching Strata Managers?
We understand that sometimes things don’t work out or your expectations are not being met by your current strata management company. Our goal is to create a well-managed, financially stable, and well-maintained strata for everyone. By exploring better options, we can take a proactive step towards a more efficient and transparent strata management experience.
A change now could bring long-term benefits to all owners, request a quote today from us.
Do Any Of These Statements Resonate With You?
- “Our strata deserve a management team that is proactive, transparent, and responsive. While our current strata manager has served us, we have noticed areas where service could be improved. I believe it’s time to consider a change that will better support our community’s needs and financial well-being.”
- “Over the past year, we have experienced delayed responses to important maintenance requests, a lack of transparency in financial reporting, and an overall decline in service quality. As a result, maintenance costs have increased, and issues such as [specific example: leaking roofs, security concerns, etc.] have been left unresolved for months. These problems affect our property values and overall living conditions.”
- “By selecting a more proactive strata manager, we can ensure timely maintenance, clearer financial oversight, and better overall service. Other strata communities that have switched have reported better budgeting, improved property conditions, and a more engaged management team.”
What To Look Out For
Here are some warning signs that it might be time to change strata management companies:
- Licensing: The strata manager should be qualified and licensed, which provides peace of mind. Even if licensing is not compulsory, the manager and support staff should have relevant qualifications.
- Finances: The financial management should be transparent and ethical. Investigate further if you notice discrepancies or have difficulty obtaining clear financial reports.
- Responsiveness: A lack of timely responses could indicate that your building is not a priority for the strata manager.
- Emergency Management: The provider should have an effective 24/7 emergency handling process in place.
- Maintenance: Poor maintenance of common areas such as an unkempt pool or overgrown lawns, indicate a need for a more effective manager.
It can be difficult to determine if your experience is normal or a red flag, but communication issues and inaction are common complaints.
Other issues that may indicate the need to change strata management companies include:
- Substantial levy arrears: While some late payments are expected, significant budget shortfalls due to unpaid levies indicate poor management.
- Shabby common areas: Run-down common areas suggest that the strata manager is not handling maintenance requests effectively.
- Late AGMs: The Owners Corporation is required to hold an AGM annually, within three months of the end of the financial year. Failure to do so can cause issues.
How to Switch Strata Management Companies
- Review the Current Strata Management Agreement check the terms of the contract with the existing strata manager. Identify the termination clauses, notice period, and any penalties for early termination. Ensure compliance with the contractual obligations before proceeding.
- Obtain Quotes from New Strata Management Companies Research and obtain multiple proposals from alternative strata managers. Compare fees, services, and reputation to find the best fit.
- Notify the Current Strata Manager Issue a formal notice of termination as per the contract terms. Request a handover of documents, financial records, and keys to the new manager.
- Engage the New Strata Manager Sign a new management contract. Ensure a smooth transition of responsibilities, including financial accounts and maintenance records.
Changing strata managers can be uncomfortable, so make sure that the current strata manager is aware of the decision before the meeting and that all owners are aware of the reason for the change. It’s also important to be courteous during the process.
Get in Touch with Us Today
Pro-Active Strata Management is ready to help you make strata management easy, so you can get on with your life.
Contact us by email or phone today.