Our Strata Property Management Expertise
Protecting your home is essential, especially as apartment and townhouse communities continue to grow. Property Accounts Management offers expert strata property management services to ensure your investment remains secure and compliant with all legal obligations.
Our experienced team delivers full compliance support under the Strata Property Act and Real Estate Services Act, managing a variety of property types, including:
- Apartment condominiums
- Townhouse complexes
- Sectioned and typed buildings
- Bare land developments
- High-rises
- Air space parcels
We provide personalized solutions to meet the unique needs of your strata corporation, ensuring long-term stability and success. Contact us today to learn how we can assist with your strata property management needs!
What is a Strata Corporation?
A strata corporation is a legal entity created under the Strata Property Act with powers similar to an individual. It can engage in contracts, hire employees, and be subject to legal actions. Formed to manage both privately owned and common areas, the strata corporation is responsible for maintaining shared property for the benefit of all owners. These obligations are carried out by the strata council or employees the corporation hires.
What is a Strata Council?
The strata council, much like a local government, is elected annually by the owners of the strata corporation. Comprising three to seven members, the council manages and administers the strata’s business, enforces rules, and oversees maintenance of common property. Their work is essential to the community’s well-being, making the cooperation of all owners crucial.
What is a Strata Lot?
A “strata lot” is the legal designation for an individually owned condominium unit, which together with other lots forms the strata corporation. The boundaries typically include the center of the walls, floors, and ceilings. Everything beyond these boundaries belongs to either adjacent strata lots or the common property. Owners are responsible for maintaining their own strata lot.
What is a Strata Manager?
What are Strata Fees?
Strata fees fund the annual operating budget, which is prepared jointly by the strata agent and council and then approved by owners. Fees are calculated based on each unit’s “unit entitlement,” proportionate to the total habitable area. The budget also includes contributions to the Contingency Reserve Fund for non-recurring expenses or emergencies.
What are Bylaws and Rules?
The strata corporation is governed by the Strata Property Act, its bylaws, and rules for common property use. Bylaws require a 75% approval vote to be adopted or amended. In addition, rules can be set by the strata council. Bylaws and rules cover a range of issues, such as pets, parking, noise levels, and rental restrictions.
For further questions, please contact our staff.
