Keep Your Accounts In Perfect Order
Keeping on top of your accounts and fiscal obligations doesn’t have to be difficult.
Providing leading strata accounting services, Strata Data are the experts at managing the financial obligations of bodies corporate across South Australia. Our in-house team can manage and deliver all accounting services required by law, and beyond. No matter what size your corporation is, we can safely and securely handle these commitments on your behalf – Strata Data will ensure that each scheme’s financial responsibility is securely managed and maintained.
We Bank With The Best
We have an outstanding relationship with one of the leading business banks in Australia – Macquarie Bank. Engaging our strata accounting services, you can relax knowing your funds are safe and secure while being looked after by an experienced financial team.
We understand how busy you are – that’s why we’re confident that with our years of experience, quality partnerships and Strata expertise, we can take care of all your Strata and body corporate accounting needs with minimal fuss.
What we do
Lowered Levies & Cost
Our group located in Burnside has been managed by Strata Data for over 25 years since 1989. Over the past 3 years, Strata Data has helped arrange major …
Hilary Twiggs, Presiding Officer. Corporation | High Street & Lockwood Road, Burnside
Prompt Response Provides Assurance
We have appointed Strata Data to act as our Body Corporation Managers for a property we own situated at 150 Esplanade Brighton. They are currently the Body Corporate …
Antonia Drusian, Owner. Corporation | 150 Esplanade, Seacliff
Well Informed Of Changing Regulations
Strata Data have been brilliant in helping to run and manage our Strata group in both consulting on regular on-going issues and also the annual meeting and financial …
Grant Phillips, Presiding Officer. Corporation | 242 Trimmers Parade, West Lakes
Effective Finance Management
I have nothing but praise for Strata Data who have managed our Body Corporate since our multi-storey apartment building was completed in 2011. Our dedicated Body Corporate Manager …
Adam Hopprich Corporation. Adam Hopprich Corporation.
Cost Reductions & Legal Matters
Liberty Towers changed Body Corporate Managers to Strata Data at the beginning of 2010. We found a new sense of professionalism, objectiveness and independence in the people at …
Garry Smith, Presiding Officer. Corporation | Liberty Towers, Glenelg
Why Choose Strata Data?
As Adelaide and South Australia’s leading strata management providers, Strata Data are the experts in comprehensive body corporate management services. We are passionate about simplifying things for our clients. We handle everything from maintenance and repairs to compliance, insurance, and provision of market-leading strata accounting services.
Where some strata companies take your finances and bookkeeping for granted, we go the extra mile. Strata Data will keep your accounts up to date, stay on top of cash flow and provide high-quality reporting that makes staying on top of finances easy.
Strata Data has grown from humble beginnings in Adelaide to becoming one of the most well-known effective body corporate management providers in South Australia. Now supporting more than 11,000 property owners and 1,200 corporations, our team possess the experience, knowledge, and expertise to ensure your experience is as seamless as possible.
When you partner with Strata Data, you’re partnering with the ‘Large Strata Management Business’ National Winner of 2019 and 2021. When it comes to accounting services for Strata and Community body corporate, there’s no one you can trust more.
Frequently Asked Questions
What’s Involved in Strata Accounting Services?
Accounting is part of any successful strata management service. Strata accounting services will include managing all finances of a strata scheme. For said schemes, all strata records and accounts must be kept accurate and completely up-to-date.
Strata schemes need to cover costs including building insurance, payment of utility bills for common property, and any costs related to property repairs and maintenance. To cover these costs, the body corporate will need an administrative fund and a sinking fund, raising levies from the owners. The administrative fund will be relied upon for day-to-day operational property expenses, and the sinking fund will be required for future capital-related expenditure.
The main purposes of accounting services are to budget, approve, pay, and invoice these costs. Your strata manager will submit these costs to the body corporate, reviewing and approving these costs, ensuring that all monies owed by the corporate are paid on time, monitoring any invoices, and overseeing tax returns lodged by the body corporate.
How Strata Data Can Help:
- Preparing budgets that will go to the Body Corporate or Committee for approval. This would include factoring in major works that need to be done to the building.
- Monitoring invoices for payments.
- Ensuring that all amounts owing and owed to the Body Corporate are paid on time – this includes fees from each property’s owner.
- Ensuring that proper, adequate, and competitive insurances are sourced and kept renewed.
What Is Common Property?
Common property refers to all parts of a Stata building that are shared between residents. This includes everything from exterior walls, fences, and gates, wiring and piping that does not belong to an individual property, exterior spaces that are not within an individual lot, structures installed on the common property by the strata corporation, and areas such as garages, pools, and gardens.
Why Do Owners Have to Pay Quarterly Contributions for Strata Properties?
As an owner within a Strata property, you are jointly responsible for the upkeep of your property and the group’s common property. Quarterly contributions, also known as levies, involve paying rates to fund the maintenance, running and management of your building. Collected quarterly contributions will pay for building and liability insurance, grounds and building maintenance, management costs and electricity costs for lights in shared stairs or hallways.
What Is a Sinking Fund?
A sinking fund refers to a monetary fund for any non-recurring repairs, replacements, or improvements to the property’s common areas. The sinking fund is a deposit that will accumulate over time, funding major repairs and replacements to areas like gardens, pools, roof, painting of exterior of building, common hallways etc.
Sinking vs Administration Fund
Generally speaking, a sinking fund is for non-annually recurring expenditure including future works or maintenance. An administration fund is used to fund annually recurrent expenses. Administration funds are set aside and used to meet the day-to-day operational, recurrent expenses.