Appointment of a Strata Manager:

This booklet provides interested parties with general information which will assist in the process of selection and appointment of a professional strata company manager on terms that are appropriate for the particular strata company and agreed to by the company and the manager.

It also covers the following subjects:

  • Why appoint a strata company manager
  • Power to appoint
  • Benefits of appointing a professional strata company manager
  • Management authority, responsibility and accountability
  • Seeking proposals from strata company managers
  • Process and criteria of selection
  • The selection process
  • The selection criteria
  • Making the appointment
  • Strata management proposals – Evaluation Matrix

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Strata Company Financial Reports and Information:

This booklet provides strata company managers and their client strata companies with guidelines as to the type and frequency of financial reports and information which should be available and provided. These guidelines are of a general nature and individual strata management firms may use a different format of presentation and strata companies may require the information to be presented in a specific manner.

The information provided is based on current generally accepted accounting standards and conventions which can be applied to the financial affairs of a strata company constituted by the Strata Titles Act 1985 (WA) (Act) using a double entry accrual bookkeeping system to record those transactions.

2 lot schemes are exempt from certain requirements of the Act unless they wish to comply and 3-5 lot schemes are able to exempt themselves from those same requirements. [s36A & 36B] This booklet does not differentiate for those exemptions.

In this booklet, unless otherwise stated, a reference to by-laws is a reference to the by-laws contained in Schedule 1 & 2 to the Act.

It also covers the following subjects:

  • Financial status of a strata company
  • Financial management requirements
  • Books of accounts
  • Statement of accounts
  • Financial report
  • Financial statements provided to owners
  • Income and Expenditure statement
  • Balance sheet
  • Assets
  • Financial Planning
  • Budget of estimated administrative fund expenditure
  • Provision for accumulation of reserve funds
  • Working capital and the funding proposal
  • Financial reports to the Treasurer or Council

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Role of the Strata Company Manager:

This booklet provides interested parties with an explanation of the role of a professional strata company manager in assisting the strata company and, more particularly, its Council, to discharge and exercise its duties, powers and functions as provided for by the Strata Titles Act 1985 (WA) (Act) and the relevant by-laws. In this booklet, unless otherwise stated, a reference to by-laws is a reference to the by-laws contained in Schedule 1 & 2 to the Act.

In order to appreciate how the strata company manager provides assistance to the strata company it is first necessary to understand how a strata  company is constituted, its organisational structure and the functions which require management.

2 lot schemes are exempt from certain requirements of the Act unless they wish to comply and 3-5 lot schemes are able to exempt themselves from  those same requirements. [s36A & 36B] This booklet does not differentiate for those exemptions.

It also covers the following subjects:

  • What is a strata company?
  • Organisational structure of a strata company
  • Functions of the strata company
  • Delegation of the strata company’s functions
  • Pitfalls of self-management
  • Why appoint a professional strata company manager?
  • Strata management, insurance, records, financial, meetings
  • Communication with the Council
  • Communication with proprietors and others
  • Matters outside the management relationship
  • Risk Management

Click here for the SCA Best Practice Series

Strata Manager vs Property Manager – what’s the difference?

It turns out the difference between a strata manager and a property manager is quite significant, so if you’re an apartment owner or a renter, or intend to be either, then this information is for you.

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