A strata is a model of property ownership where individual owners buy lots within a larger development and share ownership of the common areas with other lot owners. Strata are managed by Body Corporates made up of owners responsible for everything from writing by-laws to overseeing maintenance. However, due to the complex nature of strata schemes today, most owners’ corporations elect to engage the services of professional strata managers to handle their daily operations.
Since most strata today are run by professionals, an entire industry has come up to meet these needs. Strata professionals include not just managers but also lawyers and searchers, among others. For a long time, these specialists operated in a sort of bubble where the public noted their presence, but their status was mainly left undefined. Therefore, the news that the peak industry body for NSW’s strata sector, Strata Community Association(SCA-NSW), has successfully formalised recognition that strata is a professional industry has been well received.
This recognition means that businesses that offer strata management services and are members of SCA (NSW) must now adhere to a Code of Ethics while upholding a set of professional standards in all subsequent dealings. Moreover, their operations will now be monitored by Professional Standards Australia.
Where do the owners stand now?
Now that strata services fall under the purview of the oversight body, they are enrolled in a program known as the Professional Standards Scheme. This scheme is a legal instrument that requires all registered occupational associations to monitor, enforce and if need be, improve the professional standards of their members. Furthermore, they must protect the consumers of whichever professional services they provide.
With such a comprehensive mandate, owners within the strata may observe such benefits as:
- More stringent consumer protection under the oversight of SCA (NSW); it will also self-regulate the conduct of its members based on established professional guidelines.
- Increased Continual Professional Development (CPD) requirements for Strata Community Managers and Licensees in Charge. CPD refers to the learning activities professionals engage in while they work to develop and enhance their knowledge and skills. Therefore, with more mandated CPDs, strata managers will remain knowledgeable and conscious of their responsibilities to owners.
- A better and more independent complaint handling process, undertaken, not using the company’s methods but a separate one instead. This difference will ensure that all reviews and responses remain independent.
According to some professionals, these changes are wholly welcome, with the belief that it is about time they come about. They also embrace the opportunity to make improvements to the strata industry for better customer experiences. Since the industry will be held to a higher professional standard, the members who are a part of it will also see some advantages. Primary among them is the increased confidence that owners will have in their managers and management services. Another significant boon is continuous access to current, pertinent industry information.
As for the owners, those who engage the services of a strata manager in NSW will have access to a formal complaint and disciplinary system. Their grievances will always be heard and handled with the utmost professionalism. In addition, they can rest assured that any service or advice given by a strata management company or individual manager under the scheme will be up-to-date and based on the most recent information received through ongoing education.
With these new professional standards in place, strata managers in NSW will be better, more competent service providers. Additionally, since these requirements, as a whole, support and uplift consumer protections, owners can now expect to step into an era where strata become robust, thriving entities.