Strata Schemes

The Strata Schemes Management Act 1996 (Strata Act) provides for the following:

A system of financial management and decision making by defining the rights and responsibilities of the owners corporation and each owner and occupier in a strata scheme.

This includes:

• the management of funds and books of accounts (eg. the strata roll)
• the holding of meetings of the owners corporation and executive committee
• the responsibilities of the owners corporation to maintain common property and take out insurance
• the responsibilities of owners and occupiers
• a system for settling disputes in NSW strata schemes, including those in the day-to-day management.

Strata title has evolved considerably since its inception, with continual reviews of the legislation as the government attempts to meet the demands of home unit owners for resolution of the various challenges of communal living.

In February 2005 a number of important changes to the Strata Act came into effect. For more details about the strata schemes legislation amendment click here

At The Strata Agency, our dedicated strata management team are not only familiar with the Strata Schemes Management Act, we ensure that as changes are legislated, that we keep abreast of the new developments - so that our clients receive the most informed and up-to-date advice. We pride ourselves in making life easy for owners corporations, taking the stress and hassle out of managing strata titled properties.

As experienced strata managers, we gladly share our expertise with our clients - so that members within individual schemes feel supported, which in turn leads to harmonious communal living. This is our area expertise, for your benefit.

If you have questions regarding the strata legislation or managing strata schemes, feel free to contact The Strata Agency.