Business or company owners trust strata management in taking care of its maintenance, finances, and communication. However, when that stops from working – what will happen next? If the strata management company has stopped meeting expectations of your very own company, what should you do moving forward?
Simple – you need to make the first step in changing strata management. But do you know what things you should take note of in order to make that change? In this article, you will learn things that will tell you that it is time to change your strata management company.
When There’s Poor Communication
A string of communication and a good one at that is an important factor if you want a successful strata in your company. However, if the strata manager takes a long time to reply to emails or even phone calls, that is a clear warning sign. Others are;
- Questions are left ignored.
- Answers are vague and at times, there are none at all.
- Important updates are not being shared with owners and even residents.
Issues as mentioned above can cause delays within the community. A good strata manager responds quickly, good at explaining things, keeps everyone updated on meetings, repairs and of course, the finances.
High Fees
Just like all other fees that you might be spending too much – if money is being released yet you are getting less of it, that’s another warning sign.
A better strata company is transparent when it comes to:
- The services included in the fees.
- Where and how money is being spent.
- Transparent in any fees and upfront of any charges within.
If there are unexplained fees, or you are paying too much and receiving less – you might need to think now. Changing strata management companies will help you find the right provider with the best value and better pricing too.
Slow or Unfinished Maintenance
When there are repairs needed, the best thing to do is to resolve it immediately because if not, everyone will suffer like a leaky roof or broken lights. If these repairs take time or have never been fixed, this should mean that you need to change management. Remember that a good manager will show up, act fast, and ensure that the work is done properly and correctly.
A Very Poor Financial Handling
Strata finances should be clear and easier to understand. Here – you will need to see where to fund are going and how it is being managed. Now, if you find that,
- That are missing records
- Confusing financial reports
- Late payments towards the supplies
- Unexplained expenses
Then these are clear warnings of poor management. If there are mistakes, it could lead to serious problems like debts. This is the reason why changing strata management must be a priority if there are poor management signs going on.
No Transparency and Accountability
Or the lack thereof! A good strata manager should always be honest and open especially when there are issues. If they fail to be present, “forget” sharing documents or cannot answer your concerns, this means they lack or do not have accountability. They are not transparent and you cannot trust them.
Finally
If you want your business to flourish, you need a strata manager who knows how to listen, responds quickly, and manages your building or property with the utmost care. If you ignore warning signs – things are bound to fail.
This is why you need to be on top of the game by choosing a reliable company which you can trust, rely on, with fair pricing too. This way, you can sleep better at night knowing that you have better strata management for your business.
