The specialist in the area of the property management which is also called as the body corporate management is called as the strata management in which it is involved in the day to day operations and the management of the property and this is also done in the jointly owned or the multiple units which are common in the areas and the common facilities .The concept is derived from the strata title applied in the form of the administration of the common ownership and in the apartment building of the multiple levels or the strata . The system is followed worldwide and this system is adopted in the various parts of the world and it is considered to the be the fastest growing forms of the housing with the common interest development.
The main thing is that the categories are included with the planned unit developments and of the single family homes and known as the home owner associations and the condominiums and the cooperative apartments .The federally subsidized financing will provide the uniform financial management and the mortgage will be obliged with the borrower to the honor the restrictions of the collective property and the regime with riders .This kind of the provision however will be enforceable with the statues and the recognize the validity and the common expenses with the liabilities which are often subordinated with the junior liens and the banks will retain the senior titles .
The successful management will be dependent on the management of the developments and the will help in establishing the strata title and the system which provided with the framework of the ownership and the main guidelines will be managed and developed with the multiple users or the owners. The many jurisdictions are the one which will adopt the concept of the jointly owned properties and the owners are in the very much in this kind of the schemes and they automatically become the members of the owners and the community with the association. The association ultimately will bear the responsibility and the mainatainace and the management of the common area and the such kind of the lobbies and the corridors which are like they are shared in the leisure and facilities such as the gyms and the swimming pools and they are responsible for the running of the administrative and the financial aspects of the entire property.
The main role also involves the owners in the corporation and the executive committee and the can be managed with the successfully condoling and then managing and also maintaining the property up to mark.
The concept is derived from the strata title applied in the form of the administration of the common ownership and in the apartment building of the multiple levels or the strata. The system is followed worldwide and this system is adopted in the various parts of the world and it is considered to the be the fastest growing forms of the housing with the common interest development.