Strata management, sometimes called corporate body management, is property management. It involves the day-to-day management of a property, common areas and facilities. It also involves communication and emotional intelligence. Strata management can be challenging, especially if the strata consist of multiple units.

Strata management involves financial management.

Financial management is a crucial part of strata management, and strata managers are responsible for creating and maintaining financial records for strata projects. They must ensure that the financial statements accurately reflect the changes made during the year. They must also make sure that any monies owed are paid on time.

The financial management of strata projects involves the collection of strata levies, which are payments made to the strata corporation by lot owners. These levies fund ongoing maintenance and repairs and are used to improve the overall value of the building. A well-maintained building increases its value, and strata schemes are responsible for ensuring all strata buildings are in good repair.

Adelaide strata management can be complex, but it doesn’t have to be complicated. Strata managers are usually hired by the owners’ corporation or community association and work within the laws to ensure compliance. They also keep accurate records of all significant developments within a Strata Property. These professionals can also issue certificates and conduct title searches.

It involves emotional intelligence.

Emotional intelligence is a key component of Adelaide strata management, and it can improve productivity and collaboration and reduce office drama. In addition, it can help people deal better with conflict and make more sound judgments. Emotional intelligence is a skill that can be taught and practised by anyone.

Emotional intelligence has been studied in various contexts, including group dynamics and leadership. For example, Goleman and colleagues distinguished between resonant and dissonant leadership styles, and they noted that dissonant leaders fail to connect with others and create a distance. Likewise, resonant leaders are in tune with their followers’ feelings, and they inspire them.

Emotional intelligence involves self-awareness. This skill enables individuals to monitor their emotions and understand how they impact others. Self-awareness also helps individuals manage their emotions and understand when they are appropriate to express them. Regulating emotional reactions enables people to avoid tension and provide feedback later.

It involves systems and processes.

Systematically handling common strata management issues and complaints can save your strata community time and money. Having procedures and systems that are easy to follow will help ensure that common issues are dealt with quickly and appropriately. In addition, if you can identify and track common issues and complaints early, you can avoid them from becoming large, costly problems.

Strata management, also known as body corporate management, consists of systems and processes used to manage common areas and facilities in multiple-unit buildings. The concept originated in Australia, and the Australian model has been adopted in many emerging markets. Strata management is one of the most common forms of housing. This development includes cooperative apartments and planned unit developments of single-family homes. 

As a strata manager, your job is to oversee the day-to-day management of multiple-owner properties. It involves overseeing the finances of the building, facilitating payments to tradespeople and balancing the books. In addition, strata managers issue levies, which are regular financial contributions from lot owners to maintain the communal property. There are three types of levies:

• Administrative fund levies for routine maintenance
• Sinking fund levies for larger repairs
• Special levies for unplanned expenses

It involves communication.

One of the most important ways to communicate in strata management is via email. Email correspondence ensures that details are documented and can be referred to at any time. It is also an effective way to communicate with several people at once.

Another way to maintain good communication in strata communities is to create policies and procedures to handle common issues. These policies will prevent small problems from becoming a larger problem. Also, they will help manage complaints promptly. 

Strata management is the day-to-day management of multiple-owner properties. It involves the day-to-day maintenance of common areas and facilities. The owners of strata-titled properties have a legal entity called the Owners Corporation (OSC). In order to run the property, the Owners Corporation must comply with all relevant laws. Some properties also have a voluntary executive committee to manage the common areas.