There are a wide range of commercial strata scheme types within Australia. Some examples include large car parks, office complexes, shopping centres, business parks, and medical centres. Commercial strata schemes have distinctive management requirements. Specialist knowledge and expertise are essential. Leading strata manages to ensure they are conversant with the latest legislative changes and keep abreast of industry developments. Successful management also requires a thorough understanding of each stakeholder’s involvement and role in all aspects of the administration, operations, and ownership of commercial schemes.
Commercial owners often have very different objectives in comparison with residential strata schemes. They are usually interested in generating business and encouraging customers and clients into the precinct. Residential lot owners, on the other hand, are often more concerned with maintaining privacy and lifestyle. Competing interests need to be well managed in schemes which incorporate both commercial and residential precincts. It is essential a strata manager always acts in the best interest of the entire scheme and doesn’t favour one Body Corporate over another. This ensures favourable long term outcomes which benefit everyone.
Insight Strata has extensive experience managing accounting and administrative functions of commercial schemes providing clients with confidence and peace of mind. We offer a comprehensive range of services aimed at achieving the best possible outcomes for all stakeholders. These include:
Comprehensive budget preparation
Cash flow monitoring and reporting
Preparation of monthly, quarterly and yearly financial reports
Specialised financial reporting where required (Building Management Statement - BMS, Exclusive Use and Utilities Reporting)