Factors that determine the cost of professional strata services for your property

As a strata committee member, you may be aware of the potential benefits of hiring dedicated professional strata services in Australia. They can help you ensure that your property remains clean and well-maintained while also helping handle the administrative and legal aspects of your community living, which will give your fellow occupants peace of mind and comfort.

That said, with so many strata services specialising in different processes and offering different services, it can be difficult to gauge how much you need to be spending to hire a professional outfit—not to mention the uncertainty that comes with an abundance of choices.

In addition, not all strata management companies charge the same fees for their services, and several factors can influence the cost of professional strata management for your property. 

So, in this blog post, let’s take a deep dive into some of these factors as we offer you some tips on how to find the best value for your money when choosing a strata management service.

The size and complexity of your strata scheme

The size and complexity of your strata scheme are some of the main factors that determine the cost of professional strata services for your property. Generally, the larger and more complex your scheme is, the higher the fees will be, as larger and more complex schemes require more time and resources to manage effectively.

Here are some factors that determine the size and scale of your strata property:

• The number of lots in your scheme
• The type and mix of lots in your scheme—residential, commercial, or mixed-use
• The age and condition of your building and common property
• The facilities and amenities in your scheme 
• The level of involvement and engagement of your strata committee
• The number and frequency of meetings, disputes, and maintenance issues

When all these factors are considered, the typical strata management fee in South Australia is between $15 and $35 per unit per month, with the higher end of that figure for the most comprehensive service offered by strata management providers.

The level and scope of service you require

Strata management companies offer a wide range of services to strata properties—from strata maintenance and cleaning to administration and financial management. So, the fee you will be paying your professional strata service provider will differ based on the level and scope of their services.

Some strata management companies offer a full-service package that covers all aspects of strata management, while others offer a partial-service package that allows you to choose which services you need. Some companies may also offer additional or optional services that are not included in their standard packages, such as insurance brokerage, project management, and consultancy.

You should compare different strata managers based on their service offerings and fees to find the best fit for your needs.

Factors such as your budget and expectations, your level of expertise and experience in strata matters, your availability and willingness to participate in strata affairs, and your trust and confidence in your strata management company will dictate the scope and level of the strata service you’ll need.

The quality and reputation of your strata manager

Another factor that determines the cost of professional strata services is the quality and reputation of your strata management company. The expertise, reputation, and quality of service will vary among all strata service providers. They also vary in their customer service, communication, and responsiveness. You want to hire a strata manager who is reliable, competent, trustworthy, and friendly.

Although reputed professional strata service providers with high levels of skills, experience, and professionalism demand a higher price for their service, they will save you money in the long run by avoiding mistakes, disputes, and liabilities that could result from poor management, which could also affect the quality of life of your strata residents.

If you want to assess the quality and reputation of strata service providers in your area, be sure to check their credentials and accreditations, read their testimonials and reviews, and ask contacts from strata properties who have hired their services. 

Work with reputed professional strata services for high-quality service and costs savings in the long run

Determining how much you will need to pay for professional strata services requires you to consider a range of factors, including the size of your property, the scope of the services required, and the skills and reputation of the available options.

But be sure to hire the best service you can afford as it will help you save more money in the long run, and give your fellow occupants the best living experience.