Cogs in the ‘strata’ wheel – who’s who in a strata property
In a strata property, various individuals and entities work hand in hand to ensure everything runs like clockwork. These are the four key players you should take note of.
- Property owners
If you’ve bought a lot or a building in strata, you also co-own common property in addition to your private property. Whether or not you live on the premises, you have a say on all things related to your strata property.
- Owners corporation
All strata property owners are part of the body of owners called the owners corporation or body corporate. This body elects the executive committee and is accountable for all strata property matters.
- Executive committee:
All owners may not be able to oversee day to day running of the strata property but someone has to get the job done. So, a committee is elected by the owners corporation at an AGM, to take care of the overall administration, management, maintenance, liasioning and problem-solving process.
- Strata experts:
Owners corporations and executive committees need help too. So, they partner with industry experts to get help on day to day strata property matters. Your strata manager takes part in your general meetings, answers your questions and provides solutions so you can make the most of your strata property.
Have questions on committee management? Send them to us here.