5 Reasons Why You Need a Strata Manager
The demand for strata management services, also known as body corporate management services, has been on the rise over the past couple of years. And it’s all because more people are going into property business without dropping their regular duties.
Aware of this need, strata managers have taken their marketing services a notch higher to tap into the growing demand for their services. If you’ve already decided to hire a strata manager, the next step is ensuring that you choose the perfect one for your needs.
However, if you’re still not quite sure whether you need a strata manager, the following five reasons to hire a strata manager Melbourne will come in handy.
Regular Property Maintenance
Most property owners have enough on their plates already, making it difficult for them to regularly follow up on the maintenance and repair of their property. Where there is no body corporate service provider assigned to provide services, the property’s state may deteriorate to a dilapidated state. Think of maintaining sinks, the drainage system, swimming pools, flooring, landscaping, and all. These would be too much if you were to handle them all alone, and that’s one of the reasons why you should subscribe to strata body corporate services Melbourne.
Financial Management Services
Going into the real estate business doesn’t mean you have financial management skills. There is so much complexity and enormous work involved. As income and expenditure roll in your property business, there are financial decisions and management services to be executed. Without a proper predisposition to financial management knowledge and skills and time to get the job done, you’re likely to lose big time. For everything to run smoothly, it’s better to hire a strata manager to take care of all property management services, which will include financial management.
Accounting and Bookkeeping
The amount of paperwork involved in property management is no mean feat. It takes time, skills, and dedication to do it and do it right. If you decide to work with strata body company Melbourne, you’ll have a lot of work taken off your desk. That’s because body corporate service providers provide a wide array of services that cover accounting and bookkeeping, all of which are necessary for accountability and financial reporting purposes.
Financial Reporting
Audited books of accounts are a requirement for property managers. Doing it according to international financial reporting conventions isn’t everyone’s cup of tea. For it to be successful, it all begins with proper record keeping. With the records, you’d need to draw different types of financial reports for purposes of auditing and more. To avoid the headache of doing it alone and probably ending up with financial statements that are likely to be rejected, you should hire a strata manager.
Adherence to Government Regulations
Things change, and so are the rules that govern property management. And we all know that ignorance is no defense. Many property managers that have chosen to undertake the management of their property on their own have found themselves in trouble by unknowingly flouting some rules. This prospect isn’t likely to arise when working with a body corporate service provider. Usually, they acquaint themselves with up-to-date information about government regulations and any changes that affect the services they offer to clients.
It, therefore, comes out clearly that you’ve got every reason to hire a strata manager if you want the management of your property to be professional and to give you extra time to attend to the things you do best.
