What Do Strata Management Fees and Charges Cover?

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Strata management fees may feel like just another cost to strata owners. But what exactly is covered in this cost? While the specifics vary between specific strata management services, strata management fees in NSW can deliver great value for your owner’s corporation. Here’s how.

With the right strata manager, the day-to-day details are managed for you.

Accounting, taxes, maintenance and small repairs – we’re sure you have enough of these details in your daily life without handling them for your strata property too. A capable strata manager manages these aspects on behalf of the owners in a strata scheme, so you can focus on living your life. While you can still choose to be part of your strata committee, you won’t need to deal with regular calls about maintenance or neighbour disputes – because we can manage these for you. All of the important services are covered, and your time is your own.

With the right strata manager, you gain access to an expert team.

Strata affairs can at times be complex. A dream strata committee might be made up of a lawyer, an accountant, a builder, a building manager and a number of other professionals to cover the important bases of running the strata scheme – but the chances of this actually happening are slim! Instead, you can engage a strata management team that includes all of this expertise in its experienced team. For example, as well as our expert strata managers we also have support across the areas of compliance, finance, administrations, legal, risk, insurance and building construction. We post regular information posts on everything from COVID-19 to NSW strata legislation.

With the right strata manager, your costs are minimised.

Not only does a great strata manager minimise costs through effective maintenance and management, but they’ll also proactively be finding other ways to keep your ongoing costs to a minimum. Choosing the right strata manager is therefore crucial. Here’s just one example. Quite often, a strata management company will charge a commission on strata insurance. With Jamesons, 100% of your insurance commission is rebated directly back to your owners corporation – which can potentially mean savings of 15-20% on insurance premiums every year. We can also add you to our energy group buy, which in some cases can mean electricity cost savings of up to 28%.

With the right strata manager, you have peace of mind.

This is the ultimate aspect that can make strata management fees and charges worth every cent and more. Put simply, effective strata management can give you peace of mind that your strata scheme is doing everything by the book and delivering excellent value for yourself and other owners and residents in your strata scheme. If you aren’t getting peace of mind with your current management, then consider making the change.

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If you would like any of this information explained in further detail or are looking for personal advice, please feel free to email our strata specialist Philip who will be happy to answer your questions.

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