Body Corporate Self Management
Self Managing A Body Corporate Scheme
Self Managing A Strata Scheme Without A Strata Manager
Self management can also be referred to as DIY Strata, or DIY Body Corporate. Many Strata schemes throughout Adelaide and South Australia operate on self management. This can be the case for a variety of reasons. Self managing a Body Corporate or Strata scheme is a very popular form of management for strata schemes with fewer owners – generally between 2 to 5 owners. It can also be very financially beneficial for the members within the strata scheme, as they are saving money on management fees.
With self management, however, comes a shared responsibility amongst the members to maintain the functionality and upkeep of the property. A poorly managed strata scheme devalues a property. Similarly, many self managed corporations, over time, find it difficult to continually handle large maintenance projects, remain legally compliant, and resolve disputes.
With more and more people becoming educated on living in a body corporate scheme, savvy owners check the state of the body corporate’s finances, record keeping and the functionality of a strata community before they buy.