Why are so many strata managers stressed out?

While some strata managers are swamped looking after dozens of properties with little time for proactive or personalised care, others are embracing the opportunities that new technologies bring, allowing them to focus on person-to-person services that can’t be automated.

Being a strata manager is not an easy job. It requires an extraordinary range of skills that are rare to find in any single person.

They have to be attentive relationship managers.

They must have strong numbers skills and a working knowledge of accounting.

They need to know about building maintenance and have a basic understanding of engineering.

Strata managers must know how to run meetings, and be comfortable speaking in public.

It’s often the strata manager who must use their negotiation skills to resolve sometimes heated disputes between owners.

Strata managers must also be able to deal easily with a range of stakeholders, whether they be owners, investors, agents, lawyers, trades, tenants, or community members.

With so many components to this complex role, it’s hardly surprising that many strata managers feel stretched – sometimes to the point of breaking.

And it’s hardly surprising they don’t have the capacity to deliver clients proactive, responsive service, or have the time to pursue ways to make their role more efficient.

 

Strata a cottage industry…

 

Many strata management companies simply do not have the resources or capacity to pursue new technologies or innovate the way they do business.

There are currently around 750,000 strata lots in Victoria, being managed by ony 700 strata managers – meaning each manager is looking after, on average, over 1,000 properties.

Despite the huge volumes of properties being managed by so many managers, the sector still operates as somewhat of a cottage industry.

It is dominated by a large number of small operators.

In addition, strata management tends to be a low margin industry, meaning managers often have to look after large numbers of properties just to break even.

Given these constraints, it’s no wonder many strata managers simply don’t have the time for forward-thinking innovation.

… but the industry is consolidating

 

But consolidation in the industry is beginning to take place, with large players buying up smaller operators to gain substantial market share.

Some owners corporations are investing in technologies such as financial reporting and property management software, that remove much of the repetitive and administrative day-to-day work of property managers,

With greater automation, strata managers are freer to be more responsive to clients’ needs and provide more personal service – they can be empathetic, resolve conflicts, and consult with community members to achieve desired outcomes.

These aspects of the role can’t be, and never will be, automated.

At Beyond Strata, we have developed our own technologies to streamline our operations.

We’ve removed much of the repetitive and administrative work for our strata managers, which frees them up to be proactive at work and to be able to focus on clients.

Our managers spend most of their time with our valued customers, thinking and managing our clients’ assets proactively.

You ask how?

We have developed state of the art technology that enables our managers to be more efficient and proactive.

In addition we have a full team behind every manager, helping them with all their administrative tasks so our managers can spend more time with property owners and owners’ corporations.

Author: Beyond Strata

Beyond Strata is a professional owners corporation management firm that was founded on overarching principles of professionalism, honesty, integrity, openness and transparency. We strive to continually improve our people, culture, technology and processes improving our firm’s ability to provide the highest level of service possible to our clients.

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