The main purpose of the strata roll is to provide easily accessible information about the scheme. The roll can be considered as the “go to” document; the definitive source of the key details regarding the property.
For new buildings, the preparation of the strata roll lies with the original owner but then becomes the responsibility of the Owners Corporation, who are required to maintain the roll from the date of the registration of the strata plan. It can be kept by mechanical, electronic or other means.
The information that must be recorded in the strata roll is governed by the Strata Schemes Management Act 1996. Section 98 features the relevant clause.
The roll must contain:
a) The strata plan number and the address of the strata scheme building
b) The name of the original owner
c) The name of the strata managing agent and their Australian address
d) The total unit entitlement of the scheme and the unit entitlement of each lot
e) Insurance information such as the name of the insurance company, the number of the insurance policy, the nature of the risk insured, the amount of the insurance, the due date for payment of the premium and the date on which the premium was last paid
f) The by-laws for the scheme.
While there are legislative powers, here at Netstrata, we believe that maintaining an up-to-date strata roll is essential to the fluid management of your scheme and urge all Owners Corporation to take the necessary action to make changes to the roll when needed.
For more information on the strata roll, contact your Strata Manager at Netstrata.