Improved Management of Strata
WA’s Strata Title Act reform has brought in several key ways in which the management of strata will be significantly easier.
Key Changes To Management Of Strata
- Strata managers will be held accountable
- By-law enforcement will be easier
- Scheme maintenance will be improved
- Management processes will be simplified
Video Summary Of Changes
As it stands currently, strata managers are not mentioned in the Strata Titles Act. The reform will require their regulation through imposed statutory duties. This means that strata managers will be required to:
- Act in good faith and honesty
- Ensure they keep the strata company’s best interests at heart
- Tell the strata company if they get any commissions or have any conflicts of interests
- Keep all monies from the strata company in a trust fund
- Keep detailed records of everything they have done and give these to the strata company when asked
If a by-law is broken, having the offender pay a fine is now easier because the strata company can not only serve notice upon them, but can also ask the SAT to force them to pay a penalty.
A maintenance plan must be made if the strata company has 10 or more lots and they also must operate a reserve fund.
Managing the strata is easier with owners having the ability to declare a quorum 30 minutes after the start of a meeting so they can get down to business without lengthy delays.
Our surveyors are highly experienced in strata and can help you navigate through your development or current issues. Please contact us.
You may also be interested in:
- Staged Strata Development Reforms
- Community Title Schemes
- Leasehold Strata Schemes
- Simplified Strata Dispute Resolution
- Better Strata Buyer Information
- Terminating Strata Reform
- Strata Basics