Strata schemes can be run smoothly and efficiently if the laws are in place. If you are in any way related to property like an owner, renter, or someone who lives in a property, then you can get the lifestyle that you want without causing any problems to yourself or anyone else if you know the strata laws. These laws help you get the most out of your property. They also help you and others like you solve your problems and if there are any issues, you can easily resolve them. That way, you can ensure that small problems do not get bigger and end up as disputes or even financial problems.
To understand what strata schemes are, just think of them as small communities that govern themselves and act as a mini democracy. The owners of the property come together to form a group that takes various decisions about the property together. Different strata schemes can have different laws according to the needs and requirements of the owners who are living there and thus, they can help them get rid of any unwanted circumstances.
The owners of the strata scheme have the right to vote on all the decisions that directly or indirectly affect them, and they also share the responsibilities. Knowing these responsibilities and handling them is a tough task. That is why some owners opt to hire a strata scheme manager. In the modern days, thanks to the advancement in technology, now we have strata management software that enables you to control the decisions and make them on time as well as perform all your duties.
Key concepts in Strata
To make sure that you do a good job, here are some things that you need to know about Strata.
Simply put, a building or a group of buildings are called a strata scheme. The place that each owner has is called a ‘lot’. It could be the entire building, or it could be an apartment. It could also be a villa or a townhouse. Apart from the ‘lots’, there is common property. These do not belong to any single owner, and all the owners have to share the ownership of the common properties as well as share the responsibilities for it. Examples of common property are driveways, foyers, any and all external walls and the likes. Strata schemes could be communities, or they could sit within a ‘community scheme’. As you may have guessed it by now, a community scheme is any community that contains one or more strata schemes in it. Apart from strata schemes, community schemes may also contain community halls, parks, precinct schemes, and neighbourhood schemes.
Community properties, as mentioned earlier, are the responsibility of the owner’s corporation. The owner’s corporation consists of all the owners who belong to the community. They do not have to do anything special to get into the corporation, and any owner is automatically added to the group. Things that are common property might include any and all pipes that are servicing multiple lots. The same is true for any wiring or electrical appliances that are servicing more than one lot, walls and doors of balconies, and such. For owners, it is highly advisable to know the common property boundaries as they cannot change them in any way or use them for themselves without first letting the owner corporation know about it and taking their permission.
What do the Owners Own?
There is a simple rule that decides the ownership of an individual. Everything that comes inside the ‘lot’ of the owner’s property is in his ownership. This ownership includes everything from the walls to the ceiling, carpets, any fixtures, paint on the wall and everything else in between. Each lot has some boundaries that are called common property boundaries. They are the topmost surface of the floor without including the carpet, the lowermost surface of the roof as well as all the walls. This also includes any and all windows and doors as well as any other exit or space. Owners regularly conduct meetings to discuss and vote on various matters.
Benefits of Using a Strata Management Software
There are various ways that an owner corporation can manage their affairs. One of the ways is to get strata management software. Here are some of the benefits that they get from the software:
Maintaining the properties and making sure that all the rules and regulations are being followed as well as updated is not an easy task. There is a lot of communication to be done. Using a strata management software makes all this communication easier. You can seamlessly and safely talk to the property owners, residents, and property managers. The connections are secure and private. Another benefit is that all the communication that you do through the software is stored as well as any documentation that you send. This way, you have the complete record at your fingertips, and you do not have to wait in line for hours to get that record.
Since everything is being stored digitally, it is far easier to get to it than it was before. Using software means that you can keep as much data as you want without the needs for additional storage space or the fear of losing your data. All your data is categorized so that you can find it in mere minutes if not seconds.
Strata management software is specifically designed to make your tasks easier for you. One of the best advantages that you get from it is that it is completely cloud-based so you don’t have to update it manually. You also know that it is secure and that your data is safe from prying eyes. The backups are taken automatically on a regular basis; again, you don’t need to do anything manually.
Another advantage of using the strata management software is that it is completely scalable. Whether you want to use it for a two-unit duplex or you want to use it for a multi-building or a complex that has multiple sections, you can easily scale the software according to your needs.
Clear Management Information
With all the documentation at your fingertips, you can easily sift through the information and find what you were looking for. You can also get a complete look into any project and do not have to deal with a ton of paperwork. Management of all your information becomes a breeze for you.
Technology has really enabled us to do more work, with more productivity and efficiency, in less time and with fewer chances of failure and mistakes. That is exactly what strata management software enables us to do.