The cost of strata management services varies depending on the size and complexity of the strata scheme, as well as the location. In general, however, expect to pay between $500 and $2000 per year for strata management services.
Of course, there are a number of factors that will affect the price you pay for strata management. The most important factor is the size of your strata scheme. A smaller scheme with fewer units will obviously cost less to manage than a large scheme with many units.
Another important factor is the complexity of your strata scheme. A simple Scheme with only a few common areas and no special features will be cheaper to manage than a complex Scheme with multiple common areas and special features such as a swimming pool or gym.
Finally, the location of your strata scheme will also affect the cost of strata management. Schemes in more remote or rural areas will typically cost more to manage than those in inner-city locations. This is because it can be more expensive to provide services to Schemes in remote locations.
So, how much does strata management cost? It really depends on a number of factors, but you can expect to pay between $500 and $2000 per year for strata management services. By considering all of the factors mentioned above, you can get a better idea of what you can expect to pay for strata management services.
When you own or are considering purchasing a strata property, it’s important to understand the difference between strata levies and management fees. Both are common charges that owners are responsible for, but they serve different purposes.
A strata levy is a fee charged by the owners corporation of a strata scheme to its members to cover the costs of running and maintaining the property. The levy is usually payable monthly or quarterly, and is calculated based on the size of your unit or lot in the scheme.
The money collected through strata levies is used to pay for expenses such as building insurance, repairs and maintenance, cleaning and gardening, water and electricity charges, and other general running costs. In some cases, the levy may also be used to fund capital works projects such as major renovations or developments.
If you live in a strata scheme, you will be required to pay a strata levy as part of your ownership obligations.
While strata levies are used to cover the costs of maintaining the common areas, management fees are used to pay for the services of a professional strata management company. This company is responsible for tasks such as collecting strata levies, preparing financial statements, and dealing with maintenance issues. In larger developments, the management fee may also cover the salary of on-site staff, such as security guards or concierges.