Top Tips for Transitioning from Property Management to Strata Management

Are you a Property Manager considering the move to Strata Management in Australia?

Let us help you by explaining a few things you need to know!

While Strata Management is similar to Property Management, it has its own peculiarities and intricacies. Strata Management is a specialist area that deals with the day-to-day operation and management of multi-unit buildings, like apartments and townhouses. To help make the transition hassle-free, here are some top tips:

Get to know the current laws and regulations governing the industry:

Strata Management and Property Management have different rules and regulations in Australia, so it's important to learn the ones that apply in your state.

Gain Experience:

Managing strata properties can be challenging, so it's best to avoid diving headfirst without proper preparation. Consider taking an internship program with a Strata Management company or finding a coach to guide you through the daily transactions and responsibilities of being a strata manager.

Build your Network:

Networking is crucial in the niche industry of Strata Management. To make the transition, you must be intentional about building your contact list. Update your LinkedIn profile, join Strata Management professional communities on social media platforms, and attend niche-specific events and conferences.

Be Prepared to Work Hard:

Strata Management requires more effort than Property Management. Prepare yourself for a new set of tasks, challenges, and responsibilities as a transitioned Strata Manager. For example, dispute resolution skills and techniques are more critical in Strata Management than in Property Management.

Pursue Industry-Specific Training/Knowledge:

To function effectively as a Strata Manager, you will need industry-specific knowledge, such as financial literacy and familiarity with accounting and budgeting. Many states in Australia require Strata Managers to take certain qualification exams, so check your state's requirements and get these qualifications.

Stay Updated with Industry Developments:

It's crucial for Strata Managers to stay informed, as the industry is ever-evolving, with new regulations emerging often. Keep yourself up-to-date by reading industry publications, attending seminars and workshops, participating in online communities, and more.

In conclusion, transitioning from Property Management to Strata Management requires some effort, but with these tips, you can make the move seamless and easy.

If you need some more advice or to find out if a career in Strata Management is for you, contact our team today for a confidential chat!

0451 195 463

sofia@rippleeffectrecruitment.com.au