Running a strata management business involves a wide range of administrative, financial and compliance responsibilities, from levy collection and accounting to meeting administration and audit preparation. Many strata management companies turn to outsourced strata administration services to manage this workload efficiently. Below, we answer common questions about strata management services, strata accounting and BAS support, debt collection processes, and how outsourced property management support can help your business run more smoothly.
Note: the debt collection answers below describe APT’s role as administrative and record-keeping support for levy arrears (reminders, tracking, liaison) rather than positioning APT as a licensed debt collection agency. Please confirm this is accurate, or advise if APT holds separate debt collection licensing or works with a licensed partner, and the wording can be adjusted accordingly.
What Strata Management Involves
What does a strata management company actually do?
A strata management company handles the administrative, financial and compliance responsibilities of a strata property. This can include levy management, accounting, financial reporting, meeting administration, contractor compliance, and general strata administration.
What are the responsibilities of a strata manager?
A strata manager coordinates administrative, financial and compliance tasks for a strata property. Depending on the arrangement, this may include managing levies, financial records, meetings, contractor requirements, reporting and other day-to-day strata administration.
What do strata management services include?
Strata management services can include accounts payable and receivable, meeting administration, minute transcription, contractor compliance, levy reconciliation, arrears follow-up, financial reporting, audit preparation and general administrative support. APT Business Services tailors its strata administration and accounting support to the requirements of each strata management business
Do we need a strata manager, or can owners manage the building themselves?
Owners may be able to self-manage a strata property, depending on applicable state or territory requirements and the complexity of the property. A strata manager takes care of administrative, financial and compliance-related tasks, helping owners reduce their day-to-day workload.
Strata Accounting, BAS & Tax Support
Can a strata manager handle accounting, BAS and tax filing?
A strata manager or outsourced strata support provider may assist with accounting, BAS and taxation-related tasks, depending on the services provided and relevant qualifications. APT Business Services offers strata accounting, BAS and taxation support to help strata management businesses manage their financial and compliance requirements.
What Business Activity Statement (BAS) support can APT provide to strata managers?
APT Business Services can assist strata management businesses with preparing financial records and supporting information required for Business Activity Statement lodgement, helping keep BAS-related reporting accurate and up to date. Lodgement itself should be reviewed with a qualified BAS or tax agent.
Does APT offer tax preparation and tax return services for strata management businesses?
APT Business Services can support the preparation of financial records and documentation used in tax return processes for strata management businesses. This helps keep accounts organised and ready for review by a qualified tax professional ahead of lodgement.
Can APT help with strata financial reporting and audit preparation?
Yes. APT Business Services provides financial reporting and audit preparation support as part of its strata administration and accounting services, helping strata management businesses maintain organised financial records ready for reporting and audit processes.
Levies, Arrears & Debt Collection Support
Can strata management services handle unpaid levies and debt collection?
Yes. Strata management support can help monitor unpaid levies, follow up outstanding accounts and manage the arrears process. APT Business Services provides levy reconciliation and arrears follow-up support to help strata management businesses keep accounts organised and manage outstanding payments.
What happens when owners do not pay their strata levies?
Unpaid strata levies can affect the cash flow of an owners corporation and its ability to meet property expenses. Outstanding amounts are generally followed up through appropriate reminders and recovery procedures. Strata management support can help monitor overdue levies, maintain accurate records and manage the follow-up process.
Can APT help recover unpaid strata levies?
APT Business Services provides levy reconciliation and arrears follow-up support to help strata management businesses monitor outstanding payments, maintain accurate records and manage the recovery process efficiently, working alongside the strata manager's existing debt recovery procedures.
Does APT act as a debt collection agency for overdue strata levies?
APT Business Services supports the administrative side of levy arrears including record-keeping, reminders and tracking outstanding accounts rather than acting as a licensed debt collection agency. This helps strata management businesses stay organised while managing recovery through their established processes.
Outsourced Strata Administration
Is outsourced property management the same as strata management?
No. Property management generally focuses on individual properties and tenants, while strata management deals with the administration and financial management of shared property and owners' corporations. Outsourced strata support can cover accounting, compliance, meetings, reporting and general administration.
Can strata management services be outsourced?
Yes. Strata management businesses can outsource selected administrative and accounting functions to reduce internal workload and access specialised support. APT Business Services provides customised outsourced strata administration and accounting services based on the specific requirements of the business.
How can outsourcing strata administration benefit a strata management business?
Outsourcing strata administration can help reduce administrative workload, improve financial record management and provide access to experienced support. It can also allow strata management businesses to focus more on client service and core management responsibilities.
What accounting and administrative support can APT provide to strata management businesses?
APT Business Services provides outsourced strata administration and accounting support, including accounts payable and receivable, levy reconciliation, arrears follow-up, meeting administration, financial reporting, audit preparation, contractor compliance and other administrative tasks.
Choosing a Strata Management Partner
How much do strata administration and accounting services cost?
The cost depends on factors such as the size of the strata property, number of lots, services required and volume of administrative and accounting work. APT Business Services provides customised strata administration and accounting support based on the specific requirements of each client.
What should we check before hiring a strata management company?
Consider the company's industry experience, range of services, accounting and administrative capabilities, communication processes, technology, reporting systems, responsiveness and understanding of strata requirements. Pricing and service quality should also factor into the decision.
How do I choose a good strata management company?
Look for a strata management company or strata management agent with relevant industry experience, reliable accounting and administration processes, clear communication and a strong understanding of strata requirements. It's also useful to compare services, technology, reporting processes, responsiveness and pricing.
How do I get started with APT's strata management support?
The process starts by understanding your strata management business and identifying the administrative and accounting functions you want to outsource. APT Business Services can then provide a customised support solution based on your requirements, services and workload.