Being a strata scheme property owner is one of the best types of real estate investments. But once you’re past the stage where all the lot owners have purchased their lots is only when the real deal starts. At the start, it’s very sensible to assume that you’d be able to manage everything on your own. But will you be able to do that?
The truth is that it’s a matter of whether you can do it or not, but whether it’s worth handling your strata on your own.
The short answer is no. As for the long answer, let’s look at some of the major downsides of the self-administration of strata properties.
Skyrocketed levels of stress
If you had a separate job to manage along with managing your property, it’s better to allocate Sundays for therapy since the stress is going to be unbearable. But since you don’t have enough experience and most certainly aren’t equipped to manage the property on your own, it’s still going to be stressful enough.
Having to attend emergency maintenance matters
Most of the modern strata companies do not provide emergency maintenance services. In such a background, even if you employed one, you might have to be the one to hire emergency services when your manager is not responding. Being in such conditions almost always is never going to be a pleasant experience.
Being forced to keep track of individual lots
There will be a number of lots to deal with in the first place. But for each lot, there’s going to be a specific set of needs to be fulfilled. If you were to do this on your own, you should open up a folder for each lot and keep careful track of each lot, even the tiniest maintenance require in the long run. That’s anything but easy.
Having to deal with excessive demands of lot owners
When you’re just one person, or a limited number of people in an office, standing your ground against hundreds of lot owners won’t be easy at all.
The final result
The final result of all of these complications are going to be a very poorly managed strata scheme along with you being completely burnt out. It’s not worth it to let things slide that way. Instead, you provide the right solution to the problem.
The solution for this is none other than hiring strata managers representing reliable strata management companies – it’s that simple.
When you do, every single downside of self-administered properties will be dealt with in the best way. Given how beneficial it is overall, that’s the kind of investment that you should look forward to doing in 2022.
At the end of the day, you don’t have to deal with any of the complications mentioned earlier had you settled for a better company. However, finding an ideal company shouldn’t be done based on a random selection. This is why we recommended that you learn about the features of such companies for good.