Strata Councils are required by the British Columbia Strata Property Act and they act as the governing body for strata management and upkeep of your real estate investment.
Strata Council members are required to make decisions on a daily basis that are in the best interest of all units and owners that provides a superior living experience while protecting the equity of their real estate investment.
Positions on strata council are voluntary and require their members to conduct work outside of their regular lives and routines. This can become very time consuming for members, as they are required to manage thousands of dollars, common property projects, alongside communicating with countless owners and vendors.
If the individuals elected to council do not have strong backgrounds in the management of real estate property it can often become a risk to all strata owners regardless of their intentions. This is because you are relying on their judgement and council members are not legislated to require training of any kind.
This is when working with a Strata Management company can be very beneficial. When a strata council works in partnership with a strata management company the council is free from the day to day management duties of a Strata Corporation. This enables your strata council to focus on the future planning for your property. Working with a strata management company provides your strata council with the time and access to industry experts who can leverage their experience and best practices as tools for developing a strong a viable strata management program for your real estate property.
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