Strata schemes in NSW can either be self-managed or managed by a licensed strata manager. The majority of schemes choose to work with a licensed strata manager. But what does this licence mean – and why is it so important for people living in strata?
Once appointed, a strata manager is responsible for much of the day-to-day running of the strata scheme. They might be:
- Keeping detailed records in line with strata legislation
- Managing and obtaining quotes for mandatory strata insurance
- Providing guidance on financial and compliance matters
- Running strata meetings lawfully and in line with compliance
- Arranging for maintenance and repairs to common property, and more.
These matters directly affect the daily lives of the owners and residents living in a strata property, and mistakes could even have legal and financial ramifications for strata owners – therefore, it’s incredibly important that your strata managing agent knows what they’re doing.
Anyone wishing to work in the strata services industry in NSW must first obtain a Certificate of Registration in Strata Management from the NSW Department of Fair Trading. If someone wishes to provide services as a licensed strata manager, a Certificate IV in Property Services must be obtained. This certificate covers comprehensive modules including trust accounting, nsw strata management agency practices, financial management and staff management. In order to maintain their licence, strata managing agents in NSW must also complete a certain amount of professional development every year to ensure they’re up to date. This licensing is so important that a strata managing agent’s licence can be revoked by NSW Fair Trading in extreme cases.
Strata Solutions Tailored for Property Developers – Building Success Together!
So it’s vital that when choosing a new strata managing service you are able to verify the provider’s licence over on this NSW Fair Trading page. Here at Jamesons Strata Management you can be sure that our strata management team is certified, licensed and up-to-date on the latest legislation – and we welcome you to fact-check this!
What are the new strata manager licensing reforms?
As of March 2020 there were some key changes to the way NSW strata managing agents are licensed. Ultimately, three licence levels were created to help clarify the qualifications of someone working within the industry. The three levels are:
- Certificate of Registration as an assistant agent, which is an entry level position with limited powers
- Class 2 licence as a licensed strata managing agent
- Class 1 licence as a licensed strata managing agent or licensee in charge of a business.
Under the new changes a person who’s performing the role of a strata manager but is not licensed will no longer be able to call themselves a strata manager. Ultimately, while an assistant agent may be involved in the running of your strata scheme, it’s important that someone with a Class 2 or 1 licence is managing the essential aspects of your strata matters.
Looking to upgrade to more proactive, professional strata management with Jamesons? Explore how easy the process can be.