Strata Title Management in the 21st Century…

The following is a few thoughts on Strata Title Management in the 21st Century and where the directions/innovations that will take place in the Strata Title Management industry over the next 10 years.

Life is moving at such a pace we often forget to stop every once in a while to marvel at how dramatically technology has changed our lives, even in as little as the last 10 years and the impact that this has had on all stakeholders in the Strata Title Management Industry.

In 2001 we’d never heard of Facebook or Twitter and what on earth was an ipod? The idea of receiving emails on your mobile phone was simply fanciful, not an essential business or social tool.

And when you compare the rapid evolution of technology today, compared to say the introduction of television to Australia in 1956 vs the introduction VHS almost 30 years later, what marvels will be unveiled in the next 10 years boggles the mind.

What does all this mean for Strata Title Management and the Strata Title Management Industry?

Like many industries, improvements in technologies and systems can lead to new, innovative, efficient and most importantly cost effective ways to deliver quality information to all stakeholders involved in the Strata Title Management industry. There are the more obvious advantages such as the email delivery of meeting notices, minutes and levies to owners, saving on postage and stationery costs.

Then there’s the advantages of electronic storage of data and records of the Owners Corporation, which can not only provide instant access to your scheme’s record via a secure web-portal, however does away with costly, bulky and cumbersome archive boxes and storage systems where records can be easily misplaced, lost or decay over time.

Next comes reporting. Imagine having ‘real time’ updates of all the issues affecting your scheme; Repairs and Maintenance, Major Work and Defect rectification, By-law administration, executive committee meetings and invoice approval processes all in the palm of your hand.

Administration of your property becomes easier and efficient, which causes less frustration for owners, tenants, suppliers and managers – it’s win, win, win for all stakeholders in the Strata Title Management Industry.

But wait, there’s more…

Our lives are that hectic these days that just finding time to get together to discuss and determine the pertinent issues affecting a scheme can be a burden for all stakeholders in the Strata Title Management Industry.

The use of owner or building forums is really taking off and provides a quick, efficient and easy way for owners to express their questions, opinions and concerns at a time of their choosing. This type of administration helps all involved in Strata Title Management understand the concerns and views of all stakeholders.

What about conducting meetings online!! No more standing around in the basement car park on a cold winters night waiting for tardy owners in order to form a quorum. You can attend the meeting in the comfort of your own home, office or anywhere in the world for that matter! Best of all the details of the meeting can be recorded so owners who were unable to attend can catch up on the discussions and motions determined at the meeting.

Apart from these I.T. advances, what about building technology, construction technique and products? With utility prices soaring and threats of carbon taxes, clever stakeholders in the Strata Title Management Industry are investing in energy efficient devices and water saving devices not only to reduce their carbon footprint, but to provide real savings for the owners and residents within their scheme.

There’s been few real innovations in the efficient management and administration of strata schemes since the inception of the Strata Title Management legislation back in 1961, however the rapid advances in technology will see new, improved and yes even un-thought of innovations for Strata Title Management Industry. These advances will be sure to benefit owners, occupants and managers alike….win, win, win for everyone in the Strata Title Management Industry.

Feel free to make your own comments and contributions via feedback@netstrata.com.au