5 Guidelines on choosing the best Strata management company for your properties
According to en.wikipedia.org, strata management is the same as corporate management. It is difficult to go around shopping for a good corporate management company that will handle the smooth running of your properties. The reason behind this challenge is because there are very many companies offering the same services. However, in any interview, there is that one person who will be employed. Choosing a successful strata company can sometimes a headache because of the roles they play in managing your properties. You need to have someone who will offer their assistance during times of need and emergencies. Some managers will also offer proper management of your funds. Therefore, you need a lot of trust. As you go around shopping for a strata company, ensure that you consider the tips below:
Property management is a business that entails a lot. As you hire the company’s services, you need to know how much they charge. Can you afford to pay comfortably? Also get to understand the mode of payment. Some companies allow payment in monthly instalments. However, remember that you can't pay more money than the value of your property. That is unrealistic. Always choose a firm that is charging reasonable prices for quality services. Always have a budget and know how much you are willing to spend on the company's services.
Always ensure that you know the qualifications of the company that you want to offer your property to. If possible, get to interview the person who will be handling your property. You shouldn't allow a company to just give you anyone to manage your property. Have a professional and qualified person to ensure accountability and professionalism. These personal qualifications can help you know their strengths and weaknesses.
It’s easy to know how long a company has been around. Just ask when they started their operations. Experience will clear your doubts. The longer a company has been around, the more knowledge they have in handling challenges arising from property management. Property management is not as easy as many might think. A strata management company needs to have enough know-how on managing properties. At some point, you might need them to be mediators between you and your tenants.
The geographical location of the company matters a lot. This is due to the nature and occurrence of emergencies. What happens when there is an emergency but the company is miles away? Get your property a body corporate manager in the Sunshine Coast. Insist on getting a company in the same locality as your property. This will ensure smooth management.
- Reference and client list
It's good to take advise from your friends and relatives. They might have testimonies that will enable you to choose the correct company. A friend might prefer a company because they have had previous successful encounters with it. As you get this references, it's also healthy to check out the company's portfolio. From there, you will know whether or not to use their services.