Category Archives: Strata Management

What is Strata Management?

Strata management Adelaide is the process of forming a managing body of people who live in a building. These people are called body corporates and deal with topics of common ownership and concern in a community. Strata titles are generally owned by individuals, including individual lot ownership and building. However, they also have common areas. While the individual lot owners might theoretically deal with common area structures and issues among themselves, it is usually better to hire a professional strata management group to deal with these issues. For more information about strata management Adelaide, click to find out more here. 

Strata management

strata management AdelaideIf you’re looking for a strata management Adelaide company, you’ve come to the right place. Stratacomm has been a trusted strata management Adelaide company since 2001, offering cost-effective solutions for maintaining your building and keeping it in excellent condition. They are members of Strata Community Australia and provide their customers with peace of mind. Strata management Adelaide includes both residential and commercial buildings, as well as mixed-use sites.

Strata management Adelaide is an important aspect of managing a corporate body because these professionals are trained to deal with common ownership and community issues. While many individuals can theoretically handle common area structures and issues between lots, a professional strata management team can help to make the process smoother and more cost-effective. If you’re considering hiring a strata management Adelaide company, you should remember that they are experienced professionals with proven track records.

Strata fees

Strata management Adelaide fees are usually collected from the owners of a complex. The fees are known as strata levies and are used to fund group operating expenses such as insurance and maintenance. The fees are also used to cover common areas, which may not be the interiors of individual apartments. Common areas can include parking areas, elevators, pathways, and gardens. The strata corporation owns these areas. It is important to understand the responsibilities that come with strata ownership and the costs involved.

Strata management Adelaide fees are determined by a fee structure that identifies the major expenses of the company. These fees include attending Annual General Meetings, correspondence, financials, administration, and any action taken on behalf of the scheme. The fee structure is usually the highest per unit per month. However, it is important to consider the services included in strata fees before making a final decision. Therefore, check whether the strata management Adelaide fees cover the services you need is advisable.

Strata fees include GST.

GST, or Goods and Services Tax, is a levy imposed by the Australian government on the value of goods and services. Many service providers will quote a price that includes GST, but this is not always the case. It is important to ensure that the price you are quoted includes GST, as GST is generally 10% of the total cost. GST applies to both small and large amounts of goods and services. Strata fees can be calculated to include the GST. For more information about strata management Adelaide, click to find out more here. 

The GST-free status of strata fees is not available to all strata. The Excise Tax Act, or ETA, requires strata to collect GST on certain fees. Special Levies and Contingency Reserve Fund contributions, which exceed $50k, are required to register for GST. States that charge commercial unit fees must also collect and remit GST. The threshold for strata to register for GST is $50,000.

Strata fees include extra services.

Strata fees are a contribution paid by strata residents every quarter. They cover ongoing costs such as property management, gardening, water, garbage collection, and other common areas. Sinking fund levies cover larger maintenance expenses like utility bills and upkeep of common areas. The amount of strata fees may differ depending on the size of the building and its amenities. However, a good rule is to expect to pay about 35 to 40 cents per square foot.

Strata fees include extra services and expenses related to the building, such as insurance and maintenance. Other things such as cable and internet are optional and depend on the bylaws and preferences of the owners. The amount of strata fees is determined based on a budget approved by the board each year. Some strata fees cover the cost of heating, cable, and internet, as well as other common costs. Although these costs can add to the strata fee, they are generally cheaper than purchasing them separately.

Strata Management Adelaide

Strata management Adelaide companies offer an array of services to keep your strata community running smoothly. These services include managing the annual general meeting to overseeing financials and correspondence. Some charge an all-inclusive fee, which covers every action they take on your behalf. Others may charge you a set fee per service or offer a monthly payment plan, which is often more affordable. Depending on your needs, you may need to negotiate the cost of different services; in that case, a professional might be your best bet. For more information about strata management Adelaide, click to find out more here.