The recent spotlight on a few unethical operators and organisations risks unfairly painting the broader strata management industry in a bad light, says the Real Estate Institute of NSW (REINSW).
According to the REINSW, the overwhelming majority of strata managers add considerable value to owners by protecting their investments and caring for their properties – a fact at risk of being overlooked because of the actions of the minority.
“The vast majority of strata managers provide extremely valuable and professional services, outlined in their management agreements, in a highly effective, efficient, transparent and compliant way,” REINSW CEO Tim McKibbin says.
“The work of a strata manager is often overlooked and undervalued, because they deal with issues before owners become aware of the problem.”
“We need buyers to be confident when buying properties within strata schemes and this comes from having confidence in the professionals managing those schemes.”
“Strata law is very complex, so the REINSW has developed bespoke training and resources to provide advice and guidance to strata managers and raise professional standards in the industry.”
“We have developed agency agreements which carefully and simply take the consumer and the managing agent through the formation of the strata management agreement, creating the platform for respectful, mutually beneficial and compliant relationships.”
“We also offer strata managers access to professional advice when those difficult legal and ethical questions need to be addressed and resolved.”
“In light of recent actions by a few rogue operators, and coming reforms for the industry, it has never been more important for professional strata managers to refresh their skills, knowledge and obligations,” Mr McKibbin says.
REINSW recently delivered a webinar discussing strata managers’ obligations, particularly disclosure and consent. It is available on the REINSW website here.
