Frequently Asked Questions
Explore our FAQ Page for quick answers to common questions about our strata management services, community living, and more.
Strata Management
A strata-titled property is a form of property ownership in which an individual owns a specific unit or apartment within parcels of subdivided land or a building/complex, along with shared ownership of common areas, such as gardens, hallways, elevators, and parking spaces. This type of ownership is common in apartment buildings, townhouses, and certain types of residential communities.
Key features of a strata-titled property include:
Individual Ownership: Owners have full ownership of their individual unit or lot, meaning they can sell, lease and with express consent of the Owners Corporation modify their property, subject to the rules and regulations of the strata scheme.
Common Property: All owners share ownership and responsibility for the common property, which is managed collectively. This includes areas like gardens, pools, gyms, driveways, and other communal facilities.
Strata Scheme: The collective of owners forms a body corporate or owners’ corporation, which is responsible for managing the common property, enforcing rules, and making decisions regarding the maintenance and operation of the property.
Levies: Owners pay regular levies or fees to the body corporate, which are used to cover the costs of maintaining the common property, insurance, and other communal expenses.
By-Laws: Strata-titled properties are governed by a set of by-laws or rules that outline how the property can be used, covering aspects such as noise, pets, parking, and renovations.
Strata Managers/ Owners Corporation Managers are not Property Managers however we do work alongside your Property Manager when maintenance issues arise within the complex.
Your Property Manager is responsible for leasing your property and collecting rental payments and liaises directly with your tenant. They will conduct regular inspections of your property ensuring that any maintenance issues that may arise on the common property are reported to the Strata Manager of the Owners Corporation, Neighborhood Association or Community Association. Tenants have no authority to make requests on behalf of the Owner or Property and all requests should come through the appropriate channels.
Altitude Body Corporate & Management’s basic management covers administration of the Owners Corporations records and finance, inclusive of:
- Attending to accounting, payment of accounts, preparation of financial reports and attending to standard financial matters.
- Preparation of budgets.
- Preparing and sending levy notices and providing of facilities for electronic banking of periodical levies.
- Arranging of statutory and other insurances, insurance repairs & lodgement of insurance claims.
- Completion of statutory notices.
- Arranging of works to common property.
- Preparing for and holding of statutory meetings.
- Provision of advice to owners.
- A Management fee is allocated to Altitude Body Corporate & Management for duties performed by your strata manager in accordance with the strata management agency agreement entered into by your scheme and Altitude Body Corporate & Management.
Strata managers work under the instruction of the Owners Corporation, the Community Association or Neighborhood Association. Responsibilities include but are not limited to the management of the scheme’s finances, insurances, facilitating meetings, collection of levies and arranging property maintenance for the benefit of all lot owners. Whilst in some circumstances the Manager will be guided by the respective body in the fulfillment and approval of requests/tasks, Managers are delegated certain authority to fulfill requests and tasks related to the management of the scheme and its common property.
Finance & Insurance
Every property has its own individual budget which is discussed and approved by the owners at the annual general meeting. Levy contributions pay for the expenses of maintaining the Common Property and is limited to the amounts and types of spending according to the decisions made at meetings of the owner’s corporation.
The administrative fund budget will include items that relate to the day-to-day running of the property such as Insurance, Common Property Lawns or Garden Maintenance, Management & Administration, Fire Services, Repairs, Security Lighting, Security Services, Common Utilities & Shared Pool, Tennis Court & BBQ Facilities
The Capital Works Fund (NSW) or Maintenance Fund (VIC) is a fund that sets aside amounts each Calendar year based off a forecasted 10-year plan of maintenance. The Capital Works Fund cannot be spent on anything and must only be used for large type repairs & maintenance. Examples for NSW Strata Titled Properties Include: Roof, Gutter, Fascia & Downpipe Replacement, Sewer Re-lining, Plaster Ceiling Damage, Common Property Concreting, Common Area Lighting Upgrades/Repairs.
Levies are set specifically for each individual property and can vary for many reasons. The minutes issued after each annual general meeting will have a copy of the approved budget and a breakdown of the individual items included for your reference. Each owner’s portion is the total of the budget divided by the UOE (units of entitlement for your unit) or for company titled properties, the number of shares owned. Your Strata Managers Assistant is also available to answer any questions you may have with regards to the levies.
It is important to note that not all properties are the same. In some circumstances Altitude Body Corporate & Management will arrange the insurance for your scheme’s common property and its buildings. Depending on the land title your property falls under will generally determine whose responsibility it is to insure, in some circumstances Owners will insure their own buildings. If you are unsure of your responsibilities or your Owners Corporations responsibilities, it is imperative that you check with your Body Corporate Manager to ensure you are adequately insured.
For all Insurance matters, Altitude Body Corporate & Management work in accordance with the legislation with insurance brokers and have access to insurers that specialize in Body Corporate insurance. Where applicable the buildings will be insured for replacement/ reinstatement value, public liability, loss of rent / emergency accommodation (to cover investment owners and occupying owners where a property is unable to be occupied and is under a claim on the Owners Corporation policy – conditions apply), voluntary workers/personal accident cover (to cover persons authorized by the Owners Corporation to carry out voluntary work on the Common Property).
All claims on the building (unit complex) insurance policy must be made by the Owners Corporation to allow an historical record of all claims to be held for the scheme. Should you wish to make a claim on the insurance you should contact your Strata Manager.
Depending on the severity of the claim, the claim process can take some months to finalize. Often the insurer will appoint their own insurance building contractor and may also appoint an assessor who will more than likely conduct an inspection of the damage which would be required prior to the commencement of any repairs.
Will the owners corporation insurance policy cover damage to my carpets?
As an owner of a unit you are responsible to arrange your own contents insurance to cover items such carpets, curtains, light fittings, wallpaper, security doors, security screens and public liability inside your lot (unit and yard). Resident Owners should investigate if they require Contents and/or Landlord /insurance for the above items.
Getting Involved
A strata committee plays a crucial role in managing the day-to-day operations of a strata complex. It acts as the executive body of the owners’ corporation (or body corporate), making decisions on behalf of all the lot owners within the strata scheme. The strata committee is elected by the owners at an annual general meeting (AGM) and typically consists of a few members, including office bearers like the Chairperson, Secretary, and Treasurer.
You can raise a maintenance issue by logging in to your owner portal on our website and reporting any issues, emailing [email protected] or by contacting the office on 02 6022 3500 Monday – Friday between 8:30 am and 5:00 pm.
As an owner of a strata titled property we highly recommend that you attend your annual general meeting. This will enable you to be involved in the decision making, discuss any maintenance requirements and be up to date with the financial position of your property.
The Owners Corporation is required each year to hold an annual general meeting and you will be given at least three weeks’ notice of the meeting. You will also be provided with the agenda and meeting documentation. Requests for any extra agenda items need to be received in writing at least 30 days before the expected date of the meeting. When the meeting has been held all owners will be provided with a copy of the minutes of the meeting.
Altitude Body Corporate & Management manages a wide array of land titles inclusive of: Company, Owners Corporations, Strata, Neighborhood and Community associations made up of small and large residential, commercial, industrial, resort and retail properties. We manage schemes in New South Wales and Victoria, mainly in the Albury-Wodonga region, the Victorian snow fields and surrounding regional areas along the beautiful Murray River.
Managing Complaints
Should you have a problem relating to the Owners Corporation or maintenance of the property please contact our office to allow us the opportunity to address your concerns. Any complaint (formal or informal) should be addressed to the Strata Manager.
Information for Residents Living in Strata
Common property can be defined as any area of land or building which is not included in an individual lot. The common property is jointly owned by all lot owners and is managed by your strata manager under the instruction of the owners corporation.
In a strata scheme, an Annual General Meeting (AGM) is held once every year. The AGM is a crucial event where important decisions regarding the management and operation of the strata complex are made. All Corporations will have an end of financial year (EOFY). This date is not the same for every property and for most properties and is not the same as the traditional end of financial year date of 30th of June. All of our schemes hold different EOFY dates which allows us to conduct meetings year round. Your AGM will most likely be between 1-3 months from your properties EOFY and will allow finalization of all financial statements and meeting documents. Our properties EOFY differ and range from from 30th of January to 31st of December.
Owners need approval of the Owners Corporation to make improvements or changes to the building(s); local Council approval may also be required. These alterations can include but are not limited to:
• Installation of air-conditioners (roof mounted or through the wall), gas heaters, solar panels, garage motors, awnings or pergolas.
Please do not carry out additions or alterations without contacting our office as formal authorisation is required before any works can be commenced. Additions or alterations completed without authorisation may result in the Owners Corporation take action against you.
There can be extra costs for an owner to pay for the approval of these types of items, especially where registration of special by-laws may be required. We are happy to discuss these with you.
By-Laws, also known as; Model Rules, Management Statement, Articles of Association/Memorandum of Association (Constitution) depending on your property tiles are designed to ensure that no owner or occupier interferes with the peaceful enjoyment of another occupier within the property. It is a set of rules for the property and as an owner you are required to comply with these rules and ensure that residents, tenants or visitors also observe these rules. Further there can be additional by-laws made to cover renovations or additions. It is recommended that you ensure your tenant and / or rental agent has a copy of the By-Laws.
Maintenance & Improvements
You can raise a maintenance issue by logging in to your owner portal on our website and reporting any issues, emailing [email protected] or by contacting the office on 02 6022 3500 Monday – Friday between 8:30 am and 5:00 pm.
Altitude Body Corporate & Management will always endeavour to action all maintenance requests when received. Occasionally there are external factors which may affect these works. If you wish to receive an update or follow up on requested works a phone call to the office is recommended. Owners are reminded to remember that these request are often in the hands of the third party contractor elected to undertake the request and are reminded that the timing of works from commencement to completion is often at the discretion of the contractor and not the strata manager.
Owners need approval of the Owners Corporation to make improvements or changes to the building(s); local Council approval may also be required. These alterations can include but are not limited to:
• Installation of air-conditioners (roof mounted or through the wall), gas heaters, solar panels, garage motors, awnings or pergolas.
Please do not carry out additions or alterations without contacting our office as formal authorisation is required before any works can be commenced. Additions or alterations completed without authorisation may result in the Owners Corporation take action against you.
There can be extra costs for an owner to pay for the approval of these types of items, especially where registration of special by-laws may be required. We are happy to discuss these with you.
