Hi, I currently have an investment property in Sydney and in my opinion am paying a lot of money for a strata manager for my one unit in a block of 50 units. Currently I pay around $350+ per quarter for their services and am not sure if this is value for money.
Hence a couple of questions:-
1. What does the strata manager do they I could not do myself?2. Does the indicative pricing quoted sound reasonable?
3. Could I do all that they do or could we as unit owners do for ourselves and is it “one in, all in” being that to change all owners would have to agree, (as I understand it)
Regards
Smithers
Hello Smithers,
The strata managers generally look after the common property in such buildings. Their prices depend on the maintenance required, and the facilities provided. That is, does it have a pool, gym etc.
You will also find that the strata fees generally include building insurance. This will of course depend on the original agreement.David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.auThanks David, the current Sydney IP does have equipment maintenance requirements, lift, entrance foyer, car park, garden etc etc so I guess there is a fair amount of equip to maintain.
Will ask some more questions at next owners meeting and probaly price I am paying is ok?
May get in touch with you shortly as I am moving to next IP and can always seek advice.
Thanks
Smithers
Sounds great Smithers. Always happy to help.
David Femia
Femia Property Group
Property Investment Consultants
http://www.femiapropertygroup.com.ausounds about right to me. $1000 to $1500 depends on the factors previously mentioned and the property cost etc.. does not sound too outrageous.
The topic ‘Strata Managers for Properties’ is closed to new replies.
