Three Common Red Flags That Drive The Search For New Strata Management

10/11/2022 48 min Temporada 1 Episodio 11
Three Common Red Flags That Drive The Search For New Strata Management

Listen "Three Common Red Flags That Drive The Search For New Strata Management"

Episode Synopsis

In this episode, Brent and James have a conversation about the three most common red flags council members say drives them to look for new strata management.   _________________________________   Over 1.5 million people live in strata housing in the Province of British Columbia. Let's face it, you'd rather watch reruns of the nightly news than read the Strata Property Act (And we can't blame you) Still, most people are at a loss when it comes to understanding such an important framework for how many of us live our lives in proximity with one another. 🎙 Stratagize with Brent Anderson & James Milne features conversations with industry leaders and experts who share their knowledge to demystify an industry that impacts the lives of more than 1 out of 3 British Columbians. Whether you are a council member, owner, investor, or renter, if you're looking for content that will bring value to your strata and help you get to the next level… THIS is it! Listen to our latest episode, subscribe and rate us on iTunes. 👊 _________________________________ 🚨 STRATA TIP: Managing expectations & avoiding complaints.   Unmet expectations are a big source of complaints in a strata. Use your AGM and your council meeting minutes to communicate council’s philosophy behind certain decisions to minimize complaints by residents.   _________________________________ MAIN TAKEAWAYS: 🛠 RED FLAG #1 – Communication challenges   🛠 RED FLAG # 2 – Errors with financials   🛠 RED FLAG # 3 – Reactive instead of proactive MYTH VS FACT 🦄 “Changing management companies is hard.”    (Myth AND Fact)   Presuming you have a majority decision to explore new management, change can be hard if only one or two council members are driving the process. This is an all-hands-on-deck moment and all council members must be involved. When one or two people do all the work and bring info back to the group, the rest of the group won’t be as educated and informed as the other members. This can lead to no decision, resulting in remaining with the status quo.   Change is easier when everyone takes an active role in all the required steps and meetings. _________________________________ Connect with Stratagize Website Linkedin Email Connect with Brent Anderson Linkedin Connect with James Milne Linkedin _________________________________ RESOURCES 8 steps to going out to bid Decision making tool    Maintenance planner checklist