We are usually greeted in our social media accounts, be it Facebook, Instagram, TikTok, Linkedin or others, with advertisements promoting real properties especially condos. These promotions could be for condos at home in Singapore, in neighbouring Malaysia and from far away Australia, Dubai or even the United States.
Who managed these condos especially their common property/area?
This requires a profession that offers administrative, technical, financial, and communal services to a jointly owned non-profit real estate entity. This profession is called Strata Management. In some countries, it may be known as Body Corporate Management , Community Management or Home Owners Association Management. In an easier term, it is about condominium management.
The profession has become one of the fastest growing areas of specialisation within the real estate industry. The number of strata schemes or condo communities have grown:
Singapore -4,000
Malaysia- 22,000
Australia- 340,000
United States- 365,000
Real properties are high value assets. It therefore requires talents to maintain these single-highest investment of most people, the condo owners and some may be investors.
What does it take to be a strata manager?
A strata manager is someone controlling or administering a business or the affairs of an organisation. He performs the primary function of controlling, administering and managing the common property of the strata development, the management corporation (MCST).
Now, more than before, a strata manager is expected to have at his finger tip the:
Knowledge,
Aptitude,
Interpersonal skills and
Technical expertise
As a strata manager, he is required to be adaptable and resourceful in his need to assume the role of a:
Sales person,
Accountant,
Maintenance engineer,
Leader,and even
Diplomat
Apart from the hard skills, he needs to be equipped with the soft skills when dealing with the owners, tenants, contractors, as well as others who are involved in the strata community in one way or another. It is all about community management.
Put simply, the role of a strata manager is to be a facilitator who brings about the harmonious co-existence of all parties within the community.
A good strata manager may be someone who is an achiever, is capable of seeing to the A to Zs of strata management. ✍️The strata community certainly require talents, that calibre that could fulfil the many wants of the stakeholders. To attract the right talents to the profession, they should be compensated appropriately.
To talents out there whom are advancing your career, strata management is an evergreen industry and an essential service that could withstand the good and bad times of the economy.
Contact teopohsiang@wisely98.com, if you wish to consider strata management as a career.
#stratamanagement #communitymanagement #managingagents #career #talent
