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Financials.

The Strata Schemes Management Act provides a mandatory requirement for all Strata Managers to distribute a full set of financial statements every six months. A number of other Strata Managers provide a condensed version every three months.

At Sydney Strata our service model is to go beyond the minimum required of us especially when it comes to YOUR money. We understand you need to know the status of your finances on a much more regular basis that what is provided in the Act or what is industry norm. Our view is that if you operate on a industry norm basis, you are simply providing customers only an average service.

Financial Statements

We are able to provide fully detailed financial statements, on demand, along with scanned copies of all invoices. We are able to do this because we reconcile our bank statements everyday and we utilise a document management system where we scan all our invoices prior to paying them. 

Payment of Levies

The facility we use is with Macquarie Bank which provides levy payment facilities (DEFT) second to none for the Strata industry. Payments can be made by BPAY, Credit Card, Post Office and Cheque.

Monitoring Of Tradesman Licences and Insurances

We monitor all our tradespeople through an external service provider called Trades Monitor to eliminate the risk of your Strata Plan engaging unlicensed or uninsured tradespeople.

Debt Collection

The prompt payment of levies is an important part of being able to pay Strata related invoices as they become due. We have a stringent approach to recover unpaid levies and use Credit Collection Corporation for this purpose.

Strata Trust Accounts

We hold your Trust account finances in separate account where only your specific Strata Plan monies are held. This means we can produce a Bank Statement, on request, specific to your Strata Plan.