How can a four-lot strata scheme in Sydney find a strata manager interested in small building strata management? Can small schemes improve their bargaining power when negotiating the management agreement?
How can a small four-lot strata scheme in Sydney find a strata management company interested in small building strata management? Can a small scheme increase its bargaining power when negotiating a strata management agreement, given that strata management agencies may consider the business of managing small strata schemes to be relatively unimportant and the agency isn't interested in considering changing any of the clauses in their agreement?
The key to resolving this issue is identifying the right fit in the first instance. If you’re with a company that specialises in smaller buildings, you will receive the right level of care from that strata management company.
We frequently encounter this question. The simple answer is that you’re probably with the wrong agency. At the end of the day, strata management companies are a business and the purpose of a business is to make profit. In doing so, they are required to define their “wheelhouse”. For some companies, up to 25 lots is their specialty. Some choose to manage mid-sized buildings, or they may specialise in large, complicated buildings.
If your owners corporation is currently with a strata management company that primarily operates in the large and complex market, they’re likely receiving more remuneration from the larger buildings on an annual basis, so they will likely be inclined to give these clients more attention.
If you’re with a company that specialises in smaller buildings, you will receive the right level of care from that strata management company. It’s all about identifying the right fit within the market. Sometimes, this is a difficult thing to do.
Consider using a tendering company or relying on recommendations from a lot owner in a similar-sized building or something to that effect. Do your research and make sure you’re in a relationship with the right organisation.
Log in to your existing Lookupstrata Account to download the printable file.
During her tenure as a Licensed Strata Manager, Megan played an integral part of the strata industry since 2017 when commencing with an Industry Leader and was recognised for her dedication in the awarding of the 2019 SCA NSW Rising Star Award and 2020 SCA Australasia Rising Star Award.
Equipped with a Class 2 Strata Management Licence and Certificate 4 in Strata Management, she possesses a strong foundation of knowledge and expertise with respect to the multi-faceted management requirements of Owners Corporations, Building Management Committees, and all forms of Registered Associations, including but not limited to, Asset Management, Trust Account Management, Compliance Management, and complex Meeting Management with internal and external stakeholders.
Through the combination of all aspects of her professional experience, business management skills and passion for achieving success on behalf of her client base, Megan has been drawn to co-founding Tender Advisory to help Owners Corporation’s re-gain their confidence and control over the management of their properties and their trust accounts.
Lookupstrata Directory
Looking for NSW Strata Specialist in your area? Search within our LookUpStrata Directory for the best list of contacts available
Search the directory
Comments
Log in to leave a comment